1300 GMT - Bitcoin could soon reach all-time highs as investment flows into the cryptocurrency rise, Standard Chartered's Geoff Kendrick says in a note. Spot bitcoin exchange traded funds have seen $5.3 billion of inflows over the past three weeks, he says. Strategy, formerly known as Microstrategy, has also increased purchases and planned buying. Notably, the Swiss National Bank recently started buying Strategy shares. Meanwhile, Abu Dhabi's sovereign wealth fund is likely to have increased its bitcoin holdings while other long-term type buyers to have also joined in. StanChart expects bitcoin to rise to $120,000 by the second quarter. Bitcoin rises 2.7% to $99,379, having earlier reached a three-month high of $99,874, according to LSEG. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
May 08, 2025 09:01 ET (13:01 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。