According to Hamburg-based multinational investment bank Berenberg, Bitcoin (BTC) looks set to leave the crypto winter behind.
Berenberg reported in a research report on Thursday that BTC could regain its lost enthusiasm in the next few months. The giant bank stated that this could be due to “a combination of circumstances, evolution and timing”.
According to the report, almost every token in the market appears to be at risk of being classified as a security and being subject to sanctions. But there is only one exception to this: Bitcoin. BTC qualifies as a commodity rather than a security.
The author of the report, Mark Palmer, also drew attention to the Bitcoin halving event.
As it is known, the halving event, in which the amount of BTC given to miners is halved, takes place every four years. Currently miners are rewarding 6.25 BTC; next year this amount will be 3,125. Bitcoin halving events in the past have been associated with a significant increase in the price of the asset. The report stated that the fourth halving event is another potential positive catalyst for Bitcoin.
In addition, it was stated that the expected Halving event could act as a bullish catalyst for MicroStrategy shares, which currently have a large Bitcoin reserve.
According to the report, the most efficient way to benefit from the expected rise through public companies is MicroStrategy shares. Berenberg estimated a price of $430 for MicroStrategy stock.
You can follow the current price action here.