The launch of Bitcoin ETF in the US earlier this year has attracted institutional investors and new fund flows, Teng said at an event in Bangkok on Sunday, adding "we're just getting started."
Teng said he had earlier estimated the cryptocurrency would end the year at around $80,000, but now sees it exceeding that "with supply reducing and demand continuing to come through." He reiterated the forecast was his personal view, adding the rally won't be a "straight line" and the ups and downs will be good for the market.
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