Fidelity Digital Assets has endorsed a prediction that Bitcoin’s price could reach $1 million by 2024 based on the stock-to-flow ratio model. This prediction has garnered attention as it comes from a reputable source like Fidelity, a trillion-dollar asset manager. The report from Fidelity Digital Assets thoroughly analyzes the stock-to-flow ratio and provides a detailed perspective on why this model could lead to such a significant price increase for Bitcoin in the coming years.
In addition to validating the model predicting a $1 million Bitcoin price by 2024, Fidelity President has also filed for a new Bitcoin fund. This move further underscores Fidelity’s increasing interest and involvement in the cryptocurrency space. The scrutiny of the stock-to-flow ratio model by Fidelity Digital Assets indicates a growing acceptance of alternative methods for predicting Bitcoin’s future price movements, beyond traditional financial analysis.
Overall, Fidelity’s endorsement of the stock-to-flow ratio model and its filing for a new Bitcoin fund signal a significant shift in mainstream institutional interest towards Bitcoin. The analysis provided by Fidelity Digital Assets adds credibility to the prediction of Bitcoin reaching $1 million by 2024, and could potentially attract more institutional investors to the cryptocurrency market in the years to come.
Original article published at: http://infoonbitcoin.com/fidelity-predicts-bitcoin-price-to-reach-1-million-by-2024/