Top accounting firm, PricewatershouseCoopers (PwC) has tipped Bitcoin to reach $100,000 by the end of 2021.
The highly reputable firm published its “3rd Annual Global Hedge Fund Report 2021” in collaboration with Alternative Investment Management Association (AIMA) and Elwood Asset Management.
The report recognized Bitcoin as the world’s leading digial currency. It also highlights the successes that hegde funds holding cryptocurrency has witnessed this year.
Assets under management (AUM) of cryptocurrency hedge funds surged by $3.8 billion (a $1.8 billion increase from last year’s figures).
An Average hedge fund provided an ROI of 128%.
Also, discretionary Long was adjudged the most successful crypto hedge funds technique.
The prediction by PwC is quite bold considering the recent market depressions. But what do i know?