US retirement plans could fuel Bitcoin rally to $200K despite downturn: Finance Redefined
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Crypto inclusion in 401(k) plans may be more significant for Bitcoin than the 2024 launch of US spot Bitcoin ETFs, according to Bitwise’s European head of research.
Despite this week’s market downturn, some analysts predict that the inclusion of digital assets in US 401(k) retirement plans may unlock billions of dollars in new inflows by the fall, potentially driving Bitcoin to record highs.
This “bullish” development may push Bitcoin (BTC) above $200,000 before the end of the year, signaling another $122 billion worth of new capital while assuming a modest 1% portfolio allocation, André Dragosch, head of European research at crypto asset manager Bitwise, told Cointelegraph.
Corporate Bitcoin treasury acquisitions continue to attract new entrants, such as the Nasdaq-listed healthcare service provider and Bitcoin treasury firm KindlyMD, which made its first Bitcoin investment of $679 million on Tuesday.
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