Billionaires Are Piling Into an Index Fund That Could Soar Up to 1,207% by 2030, According to Wall Street Experts


Billionaire money managers are some of the savviest minds on Wall Street. However, the moves of hedge funds and family offices don’t always align with the opinions of analysts, whose job is to advise investors. But when the two do agree, it could mean an investment is about to soar higher.

That’s why it’s particularly notable that multiple billionaires are piling into the iShares Bitcoin Trust (NASDAQ: IBIT). The leading spot Bitcoin exchange-traded fund (ETF) has attracted the attention of several notable asset managers, including Israel Englander, David Shaw, and Steven Cohen in the first six months of 2024.

Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free »

  • Israel Englander added 10.9 million shares of the ETF to Millenium Management’s portfolio.

  • David Shaw’s D.E. Shaw & Company bought 2.6 million shares of the ETF.

  • Steven Cohen bought 1.7 million shares for Point72 Asset Management.

At the same time, multiple analysts and Wall Street insiders have put a massive long-term price target on Bitcoin (CRYPTO: BTC), the underlying asset behind the iShares Bitcoin Trust. Ark Invest’s Cathie Wood says Bitcoin could reach $1 million or more by 2030. Bernstein analysts suggest it might take until 2033 to reach that milestone. Tech CEOs Michael Saylor and Jack Dorsey also expect Bitcoin to reach $1 million, and they’ve invested heavily in the cryptocurrency through their companies. That price represents an increase of 1,207% over the next six years, as of this writing.

Here’s the bullish case for Bitcoin and the iShares Bitcoin Trust.

Small boxes labeled with different asset classes sitting on a laptop with a price chart on the display.
Image source: Getty Images.

The Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs at the start of 2024, and they could unlock a ton of value for Bitcoin. The ETFs make investing in Bitcoin much easier for institutional investors like the billionaires listed above.

So far, over $25 billion have flowed into those ETFs since their launch in January, as of this writing. But the majority of those funds came from retail investors, not the big banks and hedge funds. That said, investment advisors and hedge funds investing in Bitcoin ETFs like the iShares Bitcoin Trust are two of the fastest-growing parties of interest.

Many institutional investors may be waiting for more regulatory clarity on the cryptocurrency. Bitcoin prices surged on the news of Donald Trump winning the U.S. presidential election, as his administration is expected to provide a favorable regulatory environment for Bitcoin. Still, the real value will come from any regulation, regardless of whether it’s tight or loose, that gives institutional investors clear boundaries and guidelines for how to invest in Bitcoin.



Source link

Previous articleProtect Your Windows PC Against Zero-Day Exploits
Next articleMicrosoft is officially killing Windows Mail and Calendar by year’s end