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BlockTower Capital CIO Explains How Bitcoin Price Could Reach $110K by End of 2024


On Saturday (28 January 2023), Ari Paul, Chief Investment Officer (CIO) and Managing Partner at crypto investment firm BlockTower Capital, shared his latest thoughts on Bitcoin.

BlockTower, a leading crypto hedge fund based in Stamford, Connecticut, was founded in August 2017 by Matthew Goetz, a former vice president at Goldman Sachs (where he spent eleven years), and Ari Paul, a former risk specialist and portfolio manager at the University of Chicago’s endowment investment office and a derivatives trader at Susquehanna International Group.


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Yesterday, Paul, who like BlockTower has been long on Bitcoin for quite a while, told his over 222K Twitter followers that he expects that by the end of 2024, the price of Bitcoin will surpass $110,000, a significant increase from its current value of $23,000.

The BlockTower Capital CIO supports this prediction by looking back over the five-year period starting in 2017 and the current macroeconomic climate, which should bring in a significant influx of fiat currency from traditional financial products, much like the Grayscale Bitcoin Trust (GBTC) did in the past.

Paul acknowledges the potential risks involved in his prediction, including a general recession or a significant drop in the stock market. He believes that if such scenarios were to occur, Bitcoin could reach new lows, potentially falling below $12,000 by the end of 2024. Despite the potential risks, Paul still believes that his prediction is achievable and that $110,000 by the end of 2024 is a realistic but challenging goal.


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