Fidelity Digital Assets has endorsed a model forecasting Bitcoin’s price reaching $1 million by 2024, attributing this projection to the stock-to-flow ratio. The trillion-dollar asset management firm, Fidelity, is closely reviewing a well-known and contentious Bitcoin price model. A recent analysis conducted by Fidelity Digital Assets delves into the stock-to-flow ratio, providing support for the predicted price milestone.
In addition to validating the $1 million Bitcoin price prediction, Fidelity President has also initiated the filing for a new Bitcoin fund. The move by Fidelity indicates a deepening interest in the digital asset space and a willingness to explore innovative investment opportunities. As the company continues to delve into the potential of Bitcoin, its involvement in predicting future prices highlights a growing confidence in the cryptocurrency’s long-term value.
The endorsement of the stock-to-flow ratio model by Fidelity Digital Assets and the filing for a new Bitcoin fund suggest a significant shift towards embracing cryptocurrencies within the traditional finance sector. With the predicted price milestone of $1 million by 2024 gaining traction, Fidelity’s actions underscore a bullish outlook on the future of Bitcoin and its potential as a valuable investment asset.
Original article published at: http://infoonbitcoin.com/fidelity-predicts-bitcoin-price-to-reach-1-million-by-2024/