Billionaire Hedge Fund Managers Boost Bitcoin Bets as Wall Street Predicts Massive Gains
Several prominent hedge fund managers, including Israel Englander of Millennium Management and Tom Steyer of Farallon Capital Management, have recently increased their stakes in the iShares Bitcoin Trust. Meanwhile, Wall Street experts predict significant gains for Bitcoin price in the coming years.
Englander added 3.8 million shares, making it one of his top 15 holdings. Steyer also boosted his position by 1.2 million shares, ranking it among his top 20 holdings. Steven Schonfeld of Schonfeld Strategic Advisors bought 247,500 shares, making it his third-largest holding. Philippe Laffont of Coatue Management initiated a new position with 56,500 shares, one of his smallest holdings.
These billionaire investors have consistently outperformed the market, beating the S&P 500 by at least 15 percentage points over the last three years. Their bullish stance on Bitcoin price comes as the cryptocurrency has advanced 59% over the past year, outperforming traditional investments like gold and stocks.
Wall Street experts share their enthusiasm. Cathie Wood from ARK Invest predicts Bitcoin price could reach up to $1.5 million by 2030, implying a potential growth of over 1,150%. Larry Fink, CEO of BlackRock, expects Bitcoin price to reach up to $700,000 by the end of 2025, a gain of nearly 483%. Thomas Lee of Fundstrat forecasts about $250,000 by the end of 2025, a nearly 108% increase. These predictions suggest enormous gains for Bitcoin price in the years ahead, with estimates ranging from $710,000 to $3 million.
The iShares Bitcoin Trust, issued by the world's largest asset manager BlackRock, has attracted significant investments from prominent hedge fund managers. Their confidence in Bitcoin price's future, coupled with Wall Street experts' bullish predictions, signals a growing acceptance and optimism in the cryptocurrency market.
