PANews February 24 News, executives at Emirates NBD have stated in an interview with CNBC that the bank has opened the possibility of allocating Bitcoin in its investment process, viewing it as a store of value and “digital gold,” and recognizing its proof-of-work mechanism, limited supply, and low inflation characteristics.
The executive directly said that Bitcoin’s current valuation is more attractive than six months ago, as its price was too expensive six months ago. He revealed that the bank’s internal fair value model indicates that the reasonable price of Bitcoin within 12 months could approach $100,000, and the bank is still refining the model. He also mentioned that the bank has not yet finalized Bitcoin allocation, but if included in the future, it will be a limited proportion. The reason is that Bitcoin is correlated with market risk appetite and is highly volatile, and the bank aims for portfolio diversification.
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