Daily News 19

Tag: Bitcoin institutional adoption

  • Former Credit Suisse Executive Reveals Extremely Bullish Bitcoin Price Forecast

    Former Credit Suisse Executive Reveals Extremely Bullish Bitcoin Price Forecast

    Institutional interest in Bitcoin continues to generate notable market predictions. CK Zheng, a former global valuation risk manager at Credit Suisse, said Bitcoin’s worst period may be over and forecast that the price of $BTC could reach $150,000 by the end of 2027.

    Regulation and institutional adoption could support Bitcoin

    According to Zheng, several factors could help trigger a new Bitcoin bull cycle. These include lower regulatory uncertainty across the cryptocurrency sector, continued institutional adoption, and the potential passage of the US regulation known as the CLARITY Act.

    Zheng also said rising US government debt could increase demand for both Bitcoin and gold. Investors may increasingly turn to $BTC and gold as hedges against a potential decline in the dollar’s purchasing power. Bitcoin was trading at approximately $78,535 when the statements were made.

    Strategy resumes Bitcoin purchases

    Strategy Chairman Michael Saylor also announced that the company has resumed buying Bitcoin.

    Data shared by Saylor via X showed that Strategy purchased an additional 4,603 $BTC for approximately $370 million. During the same period, the company increased its cash assets by $29 million, while the value of its share buybacks rose by $152 million.

    Saylor said that, as of August 30, 2026, Strategy held a total of 845,050 $BTC and $6.71 billion in US dollar assets. The company’s net leverage was also reported to have declined to 0%.

    At Bitcoin’s current price of around $78,535, Strategy’s 845,050 $BTC holdings have an estimated market value of approximately $66.4 billion. If Zheng’s $150,000 price target is reached, the theoretical value of the company’s current Bitcoin reserve could exceed $126.7 billion.

    A chart shows the current price of $BTC.

    This is not investment advice.

  • How Bitcoin Is Drifting Away From Tech Stocks and Into Gold’s Territory

    How Bitcoin Is Drifting Away From Tech Stocks and Into Gold’s Territory

    Bitcoin’s relationship with traditional markets may be undergoing a significant shift. For much of the past year, Bitcoin traded closely alongside the Nasdaq, reinforcing its image as a technology-linked asset. However, that correlation has weakened sharply.

    Bitcoin’s 90-day correlation with the Nasdaq has fallen from above 60% to 33%, according to recent data from Grayscale.

    Source: Grayscale

    At the same time, Bitcoin’s correlation with gold has moved higher. The relationship is now above 50% after Bitcoin spent much of last year trading relatively independently from the precious metal.

    This does not mean Bitcoin has suddenly become gold. However, markets may be treating the two assets more similarly than before, particularly as investors reassess Bitcoin’s role as a scarce, non-sovereign asset.

    Source: TradingView

    Bitcoin has outperformed gold in recent weeks

    Over the past five weeks, Bitcoin has gained approximately 22.2%, compared with a 13.3% increase for gold.

    Although the two assets may now be moving in a more similar direction, Bitcoin remains the higher-beta version of the trade. If this trend continues, BTC could further establish itself as a scarcity asset without losing the upside potential that attracts investors.

    Changpeng Zhao says Bitcoin could overtake gold

    Speaking at Bitcoin Asia 2026 in Hong Kong, Binance founder Changpeng “CZ” Zhao said Bitcoin could overtake gold during the next bull market.

    “I think Bitcoin will overtake gold pretty soon… In the next bull run, it could happen.”

    The main obstacle is that governments already have decades of infrastructure built around gold, including valuation systems, custody arrangements and reserve-management frameworks.

    Zhao said any transition from gold to Bitcoin would likely happen gradually, even if market prices moved more quickly. Gold remains roughly 10 times larger than Bitcoin by market size, although the gap has narrowed.

    He also said he regularly advises governments to establish cryptocurrency reserves, with Bitcoin making up approximately half of the allocation.

    “Bitcoin will, for sure, become more important than gold.”

    Bitcoin’s role as a reserve asset

    For years, Bitcoin has shifted between being viewed as a technology investment and a store of value. If its correlation with the Nasdaq continues to weaken while its relationship with gold strengthens, that distinction could become less relevant.

    The bigger question may be whether institutions and governments begin treating Bitcoin as a reserve asset in its own right. Gold still holds important advantages, but Bitcoin has several factors supporting its case, including limited supply, portability and a growing institutional investor base.

    • Bitcoin’s 90-day correlation with the Nasdaq has fallen to 33%.
    • Bitcoin has outperformed gold over the past five weeks, rising about 22.2% compared with gold’s 13.3% gain.
    • Binance founder Changpeng “CZ” Zhao expects Bitcoin could eventually overtake gold as a reserve asset.