River Sees Bitcoin Price Soaring to $840,000 in Five Years

River, a U.S. financial firm, has published a report that forecasts Bitcoin's price to reach between $250,000 and $840,000 over the next three to five years.

The company attributes this potential growth to increased institutional demand for the cryptocurrency, which could lead to an inflow of $1.3 trillion to $5.3 trillion into Bitcoin.

River emphasizes that this forecast is based on several assumptions and may not materialize.

Institutional adoption of Bitcoin is expected to increase gradually, with 29 out of the 30 largest RIA firms in the U.S. already holding Bitcoin, although the median allocation is only 0.1%.