Wedbush Securities: 3%-5% of listed companies will invest in Bitcoin in the next 18 months

Daniel Ives, managing director and senior equity research analyst at U.S. investment bank Wedbush Securities, said in an interview with CNBC on Monday that 3% to 5% of listed companies will follow Tesla to buy Bitcoin in the next 18 months.

“This is not just a fad,” Ives said. “I think Tesla will continue to double down on Bitcoin. They’ve already made about $1 billion from Bitcoin.”

Wedbush Securities is the largest brokerage and investment bank on the West Coast of the United States and the largest transaction processor on the Nasdaq stock market.

He believes that from an investment perspective, 3% to 5% of listed companies will buy Bitcoin in the next 12 to 18 months, but it is unlikely to break the 5% threshold without clearer regulation.

Ives also said Tesla will double down on its investment in Bitcoin as part of its long-term strategy.

So, what are the reasons for these companies to buy Bitcoin?

Ives responded:

“I think it will be up to the company and the board of directors to decide, but we have seen some companies like MicroStrategy, Tesla, Square, etc. buying Bitcoin... I think this is a trend that may become more mainstream. Regulatory goals need to be set in the future to get more companies on this path, which will have a chain reaction.” (Bitpush)