Wedbush Revises 12-Month Bitcoin Price Target to $600
Wedbush Securities has revised its 12-month projections for the price of bitcoin, revealing it expects the price to rise to $600 over the next year. The estimate represents a revision of a $400 price projection issued in June. At the time, the financial services firm indicated its belief the share price for the Bitcoin Investment Trust (GBTC), the first publicly traded bitcoin fund, could rise to $40 over the next 12 months. This figure has been revised upwards to $60 in the latest report. Report authors Gil Luria and Aaron Turner stated that they believe the sharp increase in bitcoin's....
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The price of bitcoin can be expected to rise to $400 over the next 12 months, according to a new report by Wedbush Securities. Authored by Gil Luria and Aaron Turner, the report begins with the goal of forecasting the future value of shares in the Bitcoin Investment Trust (GBTC), the first publicly traded bitcoin fund launched in March, ultimately concluding it will outperform its current $30.60 price to rise to $40 next year. In its calculations, however, Wedbush expands on its approach to valuing bitcoin based on its expected penetration of large target markets. The bitcoin payments....
J. P. Morgan may be highly skeptical about the prospects for bitcoin, but at least one financial research firm is behind the virtual currency. Institutional brokerage Wedbush Securities has become the first to accept bitcoin payments in the US. Los Angeles-based Wedbush has thus far published two reports on bitcoin through its Wedbush Equity Research operation. At the start of December, it released "Bitcoin: Intrinsic Value As Conduit For Disruptive Payment Network Technology". It followed this up with "Digitizing Trust: Leveraging the Bitcoin Protocol Beyond the Coin" a month later. Gil....
Wedbush Securities, a very large investment banking and brokerage firms is looking to hire a Bitcoin director to oversee all aspects of Bitcoin transactions within the firm. According to the Wedbush website, the position opening went live on January 8th 2015 and Wedbush seek to fill the position as soon as possible. After acquiring holdings in the Buttercoin Bitcoin exchange last year, Wedbush Securities wish to further expand their reach as well as continue to look into the technology for the future. Also read: Wedbush Securities Acquires Holdings in Buttercoin Bitcoin Exchange Service.....
The financial giant is gradually becoming more bullish on Bitcoin and institutional adoption.
A new report released by Wedbush Securities on 14th February has found that bitcoin's most recent price decline in the wake of ongoing operational issues at major bitcoin exchanges is actually a sign that the ecosystem is stabilizing. Entitled 'Bitcoin: Watch the Innovation, Not the Price', the 16-page report suggests that six months ago, the consequences of such instability would have been far worse for the industry. Wedbush explained: "As a sign of price stabilization we would point out that Bitcoin has declined less than 15% in the face of its biggest and oldest exchange being crippled....