Meltem Demirors, Chief Strategy Officer (CSO) at digital asset investment firm CoinShares, shared her latest thoughts on Bitcoin during an interview with CNBC on Thursday (September 30).

The CoinShares CSO was appearing on CNBC’s “Fast Money” to explain to anchor Melissa Lee — and Fast Money traders Guy Adami, Tim Seymour, Bonawyn Eison, and Pete Najarianwhy — she so strongly believes that Bitcoin is going to have a fantastic Q4 that will take the price to $100K before the end of 2021.

Demoirs told Lee:

If we look at what’s happened over the last six months since Bitcoin hit its previous high of around $65,000. We saw a lot of risk coming off the table. There was a lot of leverage in the system… Right now, we’re hearing rumblings around a potential Bitcoin ETF approval. That would be cashed-settled contract based ETFs… That’s a big catalyst for looking at in Q4.

There’s also not a lot of open longs in the Bitcoin position anymore. So we’re seeing a lot more firms taking on more bullish long calls. In fact, there are a number of six-figure long-dated, option calls that are seeing some action going into the end of Q4, early Q1.

And I think most importantly, honestly, there’s a lot of cash sitting on the sidelines, and a lot of investors are now seriously contemplating an allocation to Bitcoin in their portfolios.

And there are now so many different avenues through which to do that, whether it’s through a publicly-listed investment vehicle or through assets themselves on platforms like Coinbase or Robinhood or Square. There’s just an absolute plethora of options that are opening up that channel for retail and professional investors to get exposure to the asset class.

As for China’s latest crypto crackdown measures, Demoirs seems unfazed, saying that China “has banned Bitcoin about 16 times since 2013” and “each time the ban is slightly different.” She then pointed out that because of what’s happening in China, we have recently witnessed “a shift away from China in the Bitcoin markets”, with trading in particular shifting to Europe and the United States.


The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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