John D'Agostino: The surge in Bitcoin's price was provoked by investment funds

GateUser-f090498e · 2025-04-24T21:09:10+00:00

Demand for Bitcoin is rising due to the depreciation of the US dollar and market participants distancing from small tech startups. Experts predict institutions will continue accumulating Bitcoin as a key hedge against risks, with a possibility of reaching $100,000 soon. The potential loss of independence by the US Federal Reserve System is seen as a factor driving Bitcoin's increase in value.

GateUser-f090498e

2025-04-24 21:09:10

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According to John D’Agostino (John D’Agostino), the rise in demand for bitcoin is due to the devaluation of the US dollar and the distancing of market participants from small tech startups:

“Bitcoin is traded based on its technical characteristics, which are similar to those of gold. These are: limited supply, immutability, and sovereign mobility.”

D’Agostino mentioned that he spoke with brokers about assets that could be considered a hedge against panic in the markets and economic instability. According to him, investors have always named bitcoin among them.

In the coming weeks, large institutional investors will continue to accumulate Bitcoin, viewing it as a key hedge against risks, while retail investors will reduce their positions, believes the analyst. There is a possibility that the first cryptocurrency could closely approach the mark of $100,000 in May, the expert suggested.

Earlier, the head of the digital asset research department at Standard Chartered, Jeffrey Kendrick (Geoffrey Kendrick), stated that Bitcoin will rise as there is a risk of the Federal Reserve (Fed) losing independence in the USA.

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