Back in March, Needham Co. released a bitcoin price target at $655 with validation following shortly afterward; now the investment advisory firm has recently revised their bitcoin price prediction upward to $848, emphasizing the deflationary nature of the digital asset as a key factor for their updated forecast.
In their Spring report, it was noted by Needham Co. analyst Spencer Bogart that, “…we see value in Bitcoin as a “digital gold” and as a payment network that is enabling a global, open, permissionless financial system… Over the past 20 years alone the United States dollar has lost 53 percent of its value, the British pound has lost 47 percent, the euro has lost 40 percent, and the Australian dollar has lost 64 percent,”
Furthermore, the investment advisory
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