“In any event, the model predicts approximately a $50,000 valuation coming around March, and we aren’t actually far from that price right now.”
The stock to flow model he is referring to is predicting the digital asset may top $100,000 by the end of the year.
Mr Thieriot added: “Generally speaking, I see 2021 as a year where institutions will continue to become more heavily involved in digital assets, in a variety of ways.
“Expect new announcements on companies either investing in existing cryptocurrencies or developing their own.
“I think it is at this point a safe bet that the price will generally continue to climb throughout the year, with some setbacks along the way.”