Fidelity Digital Assets is backing a prediction that Bitcoin’s price could reach $1 million by 2024 due to the stock-to-flow ratio. The trillion-dollar asset manager has filed for a new Bitcoin fund and is closely examining a widely discussed Bitcoin price model. A recent report from Fidelity Digital Assets dives into the stock-to-flow ratio and its potential impact on Bitcoin’s price in the coming years.
The validation of the $1 million Bitcoin price prediction by Fidelity Digital Assets adds credibility to the forecast. The stock-to-flow ratio analysis is seen as a key factor in forecasting the future value of Bitcoin, with many experts pointing to its accuracy in predicting price movements. Fidelity’s President has filed for a new Bitcoin fund, further indicating the company’s confidence in the long-term potential of the cryptocurrency.
Overall, Fidelity’s support for the $1 million Bitcoin price prediction and the analysis of the stock-to-flow ratio highlights the growing institutional interest in Bitcoin. As one of the largest asset managers globally, Fidelity’s endorsement of this model could potentially sway more investors to consider Bitcoin as a viable investment option. The report from Fidelity Digital Assets provides additional insight into the factors influencing Bitcoin’s price trajectory and reinforces the positive outlook for the cryptocurrency.
Original article published at: http://infoonbitcoin.com/fidelity-predicts-bitcoin-price-to-reach-1-million-by-2024/