Bitwise, a leading cryptocurrency asset manager, has made bold predictions for the year 2022, shedding light on the potential future trends in the industry. With Bitcoin’s rise fueled by ETFs and adoption, the company forecasts that the leading cryptocurrency will soar beyond $100,000 in the coming year. Despite a recent minor dip in its price, Bitcoin has been on an upward trajectory, reaching an all-time high of $69,000 in November. The market correction that followed has not dampened the overall bullish sentiment, with the recent influx of funds into Bitcoin ETFs further fueling optimism.
Bitwise also predicts that the number of countries holding Bitcoin will double by 2022, signaling a shift in geopolitical strategies as governments recognize the potential of the digital asset as a reserve asset. Currently, eight nations hold Bitcoin, with the United States and China leading the pack in terms of holdings. If this prediction comes to fruition, it could have far-reaching implications for the global financial landscape.
In addition to Bitcoin’s potential growth, Bitwise has also made predictions regarding specific companies in the cryptocurrency space. The company forecasts that Coinbase’s stock price will exceed $400 per share by the end of 2022, signaling a significant increase from its current trading price. Coinbase, a leading cryptocurrency exchange, has seen substantial growth since its debut on the stock market earlier this year.
Furthermore, Bitwise predicts that Coinbase could potentially join the S&P, a move that would solidify its position as a blue-chip stock. Additionally, the company foresees MicroStrategy, a business intelligence firm known for its significant Bitcoin holdings, being included in the Nasdaq-100 index. These potential developments highlight the growing mainstream acceptance and integration of cryptocurrencies into traditional financial markets.
Overall, Bitwise’s predictions for the year 2022 paint a picture of continued growth and adoption of cryptocurrencies, with Bitcoin leading the way as a key player in the global financial landscape. As the industry continues to evolve and mature, these forecasts provide valuable insights into the potential future trends that could shape the cryptocurrency market in the coming year.