Yassin El-Mangrah’s expectations come with a group of major investors turning towards the digital currency this year as a possible hedge against inflation, which they see as coming as a result of unprecedented government spending and accelerated printing of money, according to Sputnik, quoting Forbes magazine.
Al-Munjrah, who heads the research unit at Ark Invest, said in a report released last month: “It has provided one of the most valuable rewards of the risk investment category, as our analysis indicates that its market should expand from about $ 200 billion today to between a trillion to one trillion 5 trillion dollars over the next five to ten years.
And he added that investors should not ignore Bitcoin as an investment asset. Bitcoin has had a strong start to this decade, adding more than 40% to its value this year so far – and raising its market value to nearly $ 200 billion.
The price of Bitcoin, which started this year at $ 7,000 per unit, dropped to less than $ 4,000 in March, before bouncing back to more than $ 10,000.
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