Investment Firm Values Bitcoin Price at $848 Over Improving Fundamentals, $2,231 By 2020
Needham & Company, LLC, an investment banking and asset management firm, just bumped the estimated value of bitcoin from $655 to $848, due to faster than expected adoption and improving fundamentals, according to Money Morning. The new estimate, an analysis of the Bitcoin Investment Trust (BIT), follows Needham’s original bitcoin price prediction in March. Spencer Bogart, the author of the September 22 report, said the revised estimate is based on a faster-than-expected adoption and improving fundamentals. In addition, planned improvements to the bitcoin protocol also bodes well for....
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Needham & Company has revised its bitcoin price projection as well as its outlook on the Bitcoin Investment Trust (OTCQX: GBTC). The firm sees improvement in bitcoin’s fundamentals, but not in GBTC, downgrading the firm’s rating from “Buy” to “Hold.” Needham Sees Improved Bitcoin Fundamentals. Needham & Company is the investment banking and asset....
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“We must recognize all of the Bitcoiners who continued to stay true to their convictions and values in 2020.” The post 2020: We Were Right appeared first on Bitcoin Magazine.