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Nic Carter, the founder partner of Castle Island Ventures, has said Bitcoin could reach $900,000 in the long term, drawing comparisons to gold and citing factors such as growing institutional adoption.
As Bitcoin sells at $103,967, analysts are revising their long-term valuation for BTC, proposing new heights. They cite factors such as adoption by institutional players, potential integration by sovereign entities, and its comparison to gold as a store of value.
Experts have drawn parallels between Bitcoin’s market capitalization and gold, citing the possibility of the crypto matching gold’s market cap. Castle Island Ventures’ Nic Carter highlighted this potential, projecting a long-term Bitcoin price of $900,000.
Institutional Strategies For Bitcoin
Carter points out that institutional participation has significantly boosted Bitcoin’s prominence. Strategies like MicroStrategy’s use of fixed-income markets to fund Bitcoin purchases have shown the profitability of such investments, with substantial premiums on their holdings.
As Carter notes, these trends demonstrate the growing interest in Bitcoin as an investment vehicle, especially among entities unable to buy the cryptocurrency directly.
Additionally, regulatory changes in Washington could unlock new opportunities for broader adoption. Carter suggests that policies like the cessation of de-banking and Bitcoin custody by major banks could trigger a new wave of institutional and sovereign adoption.
Proposals for Bitcoin as a Strategic Reserve
Furthermore, Bitcoin’s role in addressing fiscal challenges has also garnered attention. Earlier, VanEck proposed a model where the U.S. Treasury could strategically acquire Bitcoin to mitigate national debt.
This proposal assumes the purchase of one million BTC tokens over five years at an average price of $250,000 per Bitcoin. Such strategic reserves could theoretically align with Senator Cynthia Lummis’ vision while addressing inflation and fiscal sustainability.
These developments coincide with broader market trends, as noted by VanEck’s CEO, Jan van Eck. His forecast of Bitcoin reaching $150,000–$170,000 by 2025 reflects growing confidence in the asset’s resilience.
The asset’s year-to-date return of 124.4% further underscores its market dominance in 2024, far outpacing gold’s 28.1% performance.