• A new survey conducted by Nickel Digital Asset Management shows that institutional investors expect a strong year ahead for bitcoin and are confident about its long-term valuation.
• The survey, which was conducted by market research company Pureprofile, interviewed 200 institutional investors and wealth managers across the U.S., U.K., Germany, Singapore, Switzerland, UAE, and Brazil.
• According to the survey results, 65% of institutional investors agree that bitcoin could reach $100,000 in the long term, with 58% expecting it to occur within three to five years and 25% expecting it to take five or more years.

Institutional investors are bullish on the prospects of Bitcoin and expect it to have a strong year, according to a survey released by Nickel Digital Asset Management. The survey, which was conducted by market research company Pureprofile, interviewed 200 institutional investors and wealth managers across the U.S., U.K., Germany, Singapore, Switzerland, UAE, and Brazil, who collectively manage around $2.85 trillion in assets.

The survey found that a majority of institutional investors are confident about Bitcoin’s long-term valuation, with 23% forecasting that BTC will exceed $30,000 by the end of 2023. Furthermore, 65% of those surveyed agree that Bitcoin could still hit $100,000 in the long term. Of those, 58% expect BTC to reach this price level within three to five years, while 25% believe it will take five or more years.

The survey’s findings are indicative of a growing trend of institutional interest in Bitcoin, as a number of large firms have recently made moves towards investing in the cryptocurrency. For example, business intelligence firm MicroStrategy recently announced that it had purchased $425 million worth of Bitcoin, and multiple banks, including JPMorgan Chase, have begun offering Bitcoin services to their clients.

The survey also found that a majority of institutional investors are bullish on the potential of blockchain technology, with 83% believing it will revolutionize the way the world does business. Additionally, 72% of those surveyed are confident that blockchain technology will become a mainstream technology in the next few years.

As institutional investors continue to pour money into Bitcoin and other cryptocurrencies, it’s clear that the sector is becoming more attractive to larger investors. With the bullish sentiment among institutional investors and the increasing use of blockchain technology, it’s likely that Bitcoin and other cryptocurrencies will continue to grow and potentially reach new heights in the coming years.