Crypto NewsAnalysisBCA Research Says "Bitcoin Running to $100K", Explains the Unspoken Reason

BCA Research Says “Bitcoin Running to $100K”, Explains the Unspoken Reason

Research company BCA Research claimed that the Bitcoin price will eventually reach 100 thousand dollars and shared the reason.

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BCA Research, a leading independent provider of global investment research, predicted in a recent report that Bitcoin could eventually rise above $100,000. The company attributes this potential rise to Bitcoin's 'non-confiscability' feature, which makes it liken to gold.

According to Dhaval Joshi, Chief Strategist at BCA Research, Bitcoin and gold are conceptually linked because their shared value stems from their non-confiscability feature. This value is immune to inflation, bank failure, and even state expropriation in the case of Bitcoin.

Joshi argues that Bitcoin's controlled supply protects it from being confiscated by inflation. Additionally, the bankruptcy of banks or other financial institutions does not cause the investor to lose their cryptocurrencies. Even if a government bans Bitcoin, it does not constitute a confiscation as long as there is a global network of Bitcoin holders who value their tokens for their impermissibility.

“Bitcoin price will rise to $100,000 as the market value given for non-seizability increases significantly and Bitcoin's share of this market grows significantly,” Montreal-based BCA Research said.

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Bitcoin reached an all-time high of over $73,000 on March 14 and has increased by over 70% this year. The launch of US spot Bitcoin ETFs this year and the shrinking of Bitcoin supply ahead of the 'halving' at the end of April have been major factors in the BTC price increase.

Meanwhile, gold also experienced a record rise. Bullion prices hit a record high of $2,365.09 on Tuesday. Gold bullion is viewed by some investors as a hedge against inflation and geopolitical uncertainties.

In its statement, BCA said the following about the issue:

“The recent sharp rises in both gold and Bitcoin reflect that the market has suddenly increased the value of non-seizability. “This shows that the ability of both assets to maintain their value in the face of external factors is increasingly recognized.”

*This is not investment advice.

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