Grayscale "Bitcoin could reach an all-time high during the first half…expectations for dollar weakness and rate cuts"
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- Grayscale said Bitcoin (BTC) could reach an all-time high during the first half of the year.
- Jack Pendle cited dollar weakness and policy rate cuts among macroeconomic factors, and the expanding demand for digital assets as alternative stores of value, as the main factors.
- He said U.S. clarity in virtual asset regulation will play a key role in future institutional investors' market participation and Bitcoin demand.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Earlier, Grayscale, which in a year-end report forecast that Bitcoin (BTC) could reach an all-time high during the first half of the year, explained the reasons.
On the 2nd (Korea time), Jack Pendle, Grayscale's head of research, said in an interview with CNBC, "The bullish outlook for Bitcoin is based on two pillars: expanding demand for alternative stores of value and regulatory clarity."
Pendle pointed to the macroeconomic environment as a primary factor. He explained, "Preferences in the Trump administration for a low interest rate stance and the possibility of a change in the chair of the Federal Reserve (Fed) are increasing the likelihood of dollar weakness and expectations of policy rate cuts," adding, "In such an environment, not only physical assets like gold and silver but also digital assets like Bitcoin and Ethereum (ETH) can be recognized as stores of value."
He also cited improvements in the virtual asset regulatory environment as an important variable. Pendle emphasized, "If bipartisan discussions on a virtual asset market structure bill in the U.S. Congress make progress, institutional investor participation could expand further," and stressed, "The establishment of a clear regulatory framework is a key factor stimulating Bitcoin demand."
