Bitcoin rate: $ 100,000 this year?

Bitcoin (BTC) has reclaimed $ 50,000 and hit a new high. Even Bitcoin critic Peter Schiff no longer rules out a rate of 100,000 US dollars. The market update.

After the Bitcoin price exceeded the threshold of 50,000 US dollars (USD) for the first time on February 16, profit-taking ensued. Now BTC has conquered the psychologically important brand again – and set a new price record at USD 50,900.

Survey: Bitcoin skepticism predominates among companies

Since the US company Microstrategy announced its Bitcoin Investor coup in late summer 2020, the number of imitators has been increasing. Above all, Elon Musk’s decision to invest part of the Tesla reserve in BTC had recently given the Bitcoin price a fresh boost. Microstrategy itself announced new Bitcoin purchases on February 16, as also reported by BTC-ECHO .

Nevertheless, the majority of financial executives in the economy still seem to be more skeptical about Bitcoin. According to a recently published survey by the market research company Gartner, only 5 percent of the CFOs surveyed can imagine investing in BTC with their company in 2021. Of the 77 financial managers surveyed (including 50 CFOs), 84 percent named the large fluctuations in the price of Bitcoin as the biggest stumbling block that made them shy away from investing in digital gold.

Eighty-four percent of respondents said Bitcoin’s volatility poses a financial risk. It would be extremely difficult to mitigate the kind of price volatility that the cryptocurrency has seen over the past five years.

Alexander Bant, Chief of Research at Gartner Finance

38 percent of those surveyed also complained about the slow adaptation of Bitcoin as a means of payment.

After all: 16 percent plan to hold BTC one day. Five percent want to get into Bitcoin as early as 2021. Only one percent have such intentions for the period 2022-2023. Nine percent are not considering a BTC investment before 2024.

Companies from the technology sector in particular are bullish. Every second company is planning a Bitcoin investment here. Against the background that with Microstrategy, Square and Tesla, technology companies in particular have discovered BTC as a reserve asset, this seems logical.

Bitcoin rally brings record profits

One thing is certain: the overwhelming majority are currently doing good business with Bitcoin. The average net profit on BTC transactions is hovering at levels that even the bull run of late 2017 is fading. This is shown by data from the blockchain analysis service provider Glassnode.