The Needham Report Forecasts Bitcoin Price to Hit $848
The recently released Needham report forecasts the Bitcoin price to reach $848 in the near future. How is Bitcoin faring in the market and what’s in store for the digital currency community in the near future? A recent assessment made by Needham report draws an outline of all the things that might soon happen with the most popular cryptocurrency. One glance at the report, and it is quite evident that the digital currency is right on track. According to the report, the adoption rate of Bitcoin has been better than all previous expectations. With increasing demand, the price projections for....
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Needham & Company has put together a report on the prospects of the Winklevoss twins’ proposed bitcoin ETF, and it comes with both positive and negative news for the digital bearer asset. Spencer Bogart, a research analyst at Needham & Company, put together the report in response to the questions the company had been receiving from their clients regarding a possible bitcoin ETF. According to the report, the positive effect that a bitcoin ETF would have on the price of bitcoin is vastly underappreciated, and the probability of approval is drastically overestimated within the....
Needham & Company, an independent investment bank and asset management firm, released today a mini investors’ report on the prospect of a Bitcoin ETF in 2017. The company currently hands Barry Silbert’s Bitcoin Investment Trust (GBTC) with a ‘Hold’ rating. Report author, Spencer Bogart, detailed the upside potential of a bitcoin ETF being approved....
Needham & Co. LLC, a New York City-based investment firm, has begun covering the Bitcoin Investment Trust (BIT), giving it a “buy” rating and a $62.00 price target (PT). Needham estimates the present per-bitcoin value at $655. BIT is sponsored by Grayscale Investments, which is owned by Digital Currency Group, which invests in the blockchain and digital currency ecosystem. BIT is a private, open-ended trust that invests only in bitcoin. Hence, the value is based primarily on the bitcoin price. Needham, according to a 39-page report explaining its “buy” at $62 PT, believes the price of....
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....
Investment bank and asset management firm Needham & Company has released a report that concludes that bitcoin is currently undervalued by 58% based on today's price. The report values bitcoin at $655, compared to about $412 today and advises that investors buy shares in the Bitcoin Investment Trust (GBTC), a vehicle for speculators to invest in bitcoin without actually buying and holding the asset. Spencer Bogart, author of the report and Needham's newly appointed equity research associate in charge of bitcoin and blockchain, said that the report is a vote of confidence in an emerging....