Anthony Bassili, president of Coinbase Asset Management, has announced a long-term price target for Bitcoin. The firm expects the asset to reach a valuation exceeding $300,000 by 2030.
Bassili noted that the company anticipates a shift in market dynamics, specifically expecting Bitcoin cycle returns to diminish as the base price increases. He also highlighted gold parity as a key long-term trend.
The discussion covered institutional adoption, including how pension funds, endowments, and sovereign entities approach Bitcoin. Bassili also addressed the role of wealth advisors, who are currently allocating between 1% and 5% of portfolios to the asset.
Coinbase Asset Management is also focusing on the tokenization of financial products. This includes the development of tokenized funds and the use of the iCapital feeder to facilitate broader market access.
