Daniel Batten: investment funds can raise the price of bitcoin to $ 148,000

According to an analysis by Daniel Batten, a well-known bitcoin supporter, sovereign wealth funds' investments in the market’s flagship BTC $95,907.28 Bitcoin -0.21% Market capitalization $1.9 trillion VOL. 24 hours $2.26 billion could raise its price to more than $ 148,000 per coin. The analyst emphasizes that if sovereign wealth funds allocated at least 1% of their assets to bitcoin, it could significantly increase its market value.

The main obstacle to such investments is not a lack of interest, but restrictions in the investment framework, in particular due to ESG criteria (environmental, social, and governance aspects), the analyst says. Batten believes that the current understanding of the environmental impact of bitcoin is outdated and does not correspond to modern realities.

Batten also points out that, despite the difficulties, efforts to overcome these obstacles are less complicated than convincing states to accept bitcoin. He believes that investments by sovereign wealth funds can help stabilize and legitimize the market, which will attract the attention of more conservative investors.