Crypto investor Brian Kelly believes Bitcoin is poised for a bullish surge due to rising demand and limited supply.
Institutional Interest
Kelly highlights the potential impact of major brokerage firms like Morgan Stanley and UBS entering the Bitcoin market. He anticipates a significant influx of demand once these firms allow their clients to invest in BTC.
Post-Halving Environment
Kelly also emphasizes the role of recently approved Bitcoin ETFs in driving demand. He notes that the halving, which reduced the supply of new BTC, has created a supply shortage.
Bullish Outlook
According to Kelly, the combination of increased demand and reduced supply creates a “bullish set-up” for Bitcoin. He predicts that BTC could eventually become a safe-haven asset like gold, although he believes this may take 10-20 years.
Market Update
At the time of writing, Bitcoin is trading at $66,474, up over 4% in the past week.
