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World’s largest pension fund explores bitcoin, new BTC price targets, and Robinhood’s crypto wallet

The Hash Insider

It was another volatile week for crypto markets as the Nasdaq Crypto Index (NCI) fell 4.4%, with ether (ETH) down 6.8% while bitcoin (BTC) dropped 3.5%. BTC fell 10% on Wednesday but recovered most of this following the Fed’s dovish commentary.



Bitcoin target raised to $150k by Standard Chartered, $90k by Bernstein

Bitcoin's future trajectory seems promising as financial institutions like Standard Chartered forecast a potential surge to $150,000 in 2024, reflecting growing confidence in its value proposition. Meanwhile, Bernstein raised its year-end price target for Bitcoin to $90,000, while Ark Invest CEO Cathie Wood called bitcoin a “financial superhighway” and referenced her previous $1.5M price target for BTC by 2030. 


World’s largest pension fund explores bitcoin as an investment

Japan's Government Pension Investment Fund (GPIF) is considering potential new investments, including bitcoin, seeking information on the impact of bitcoin’s integration into pension portfolios, as Japan explores legislation to embrace digital assets. This move highlights a growing recognition of the potential benefits they may offer to institutional portfolios.


Robinhood rolls out crypto wallet to Android users globally

Robinhood has just unveiled its latest offering: a crypto wallet app now available to Android users across the globe. This expansion marks a significant step following the app's introduction to iOS users last year. The launch coincides with Robinhood's notable growth in the crypto sector, boasting a 10% year-over-year surge in its crypto operations alongside an impressive 89% spike in notional crypto trading volume.


From Hashdex: Bitcoin returns to an “old normal”

Our research analyst Lucas Santana wrote an article about the impact of recent monetary shocks to bitcoin’s correlation to other asset classes, and how these events have impacted bitcoin’s role as a portfolio diversification tool.



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