CoinShares Chief Strategy Officer Meltem Demirors believes that Bitcoin (BTC) will see gains in the next few months as displaced investor capital pours into the mainstream cryptocurrency.
In an interview with CNBC Television, the CEO of a digital asset management company highlighted potential catalysts that could drive the price of Bitcoin to a much higher level.
“We are seeing a lot of hype right now around the potential approval of Bitcoin ETFs. These will be contract-based cash ETFs, but nevertheless there are many buy-by-rumor, sell-fact models in crypto, which is a big catalyst we are seeing in the fourth quarter.
There are not many long positions open in Bitcoin, so we see many more firms taking on more bullish long calls. In fact, there are a number of 6-digit long-term options that will start moving towards the end of the 4th and the beginning of the 1st quarter. “
Demirors also mentioned that the wide range of platforms developed for buying bitcoins are likely to accelerate the asset’s growth by the end of this year.
“Most importantly, a lot of cash is left idle and many investors are now seriously considering including bitcoin in their portfolios.
There are many different ways to do this, whether through a public investment vehicle or through the assets themselves on platforms like Coinbase, Robinhood, or Square. Lots of options open up a channel for retail and professional investors. “