What to Expect From Bitcoin Today: $100K Incoming?
Through a stock acquisition plan, Japanese investment business Metaplanet plans to raise $62 million with the goal of adding roughly 652 more Bitcoin to its present treasury of 1,142 BTC, which is now worth over $109 million.
A growing trend among businesses looking to protect themselves from currency depreciation is reflected in Metaplanet’s approach. The company specifically said that its sustained acquisition of Bitcoin was driven by the steady fall of the Japanese yen and the growing popularity of Bitcoin.
Bitcoin’s Corporate Adoption on the Rise
The trend of institutional Bitcoin is not limited to Metaplanet. Other businesses have made calculated Bitcoin investments in recent weeks:
- Rumble, the YouTube alternative, confirmed plans to buy Bitcoin
- Genius Group purchased 110 Bitcoin for $10 million
- Semler Scientific acquired an additional 215 Bitcoin, bringing its total holdings to 1,273
According to Bernstein Research, MicroStrategy may hold 4% of the entire Bitcoin supply by 2033, demonstrating the long-term institutional trust in the digital currency.
Bitcoin Price Prediction
After briefly hitting lower levels, Bitcoin BTC/USD is now trading at about $96,700, demonstrating strong momentum. Leaders in the industry and analysts are optimistic about its prospects:
Charles Hoskinson Expects BTC at $500K?
Charles Hoskinson, the founder of Cardano, made a startling prediction: in the next 12 to 24 months, Bitcoin might hit $250,000 to $500,000. Additionally, he predicts that within three years, the Bitcoin ecosystem’s decentralized finance (DeFi) would surpass all other cryptocurrency DeFi platforms.
Can Bitcoin Price Touch $100K Soon?
Bitcoin’s possible $100,000 milestone is supported by several important factors:
- ETF Inflows: According to recent data, there has been a net inflow of $103 million into Bitcoin ETFs, mostly into Bitwise’s BITB and Fidelity’s FBTC funds.
- Miner Confidence: Traditionally a bullish sign, bitcoin miners have displayed more deposits on controlled addresses.
- Global Economic Uncertainty: Investors are turning to limited resources like Bitcoin as a haven due to difficulties in large economies like France and Russia.
On-Chain Indicators Point to a Potential Bottom in Bitcoin Price
Recently, Glassnode’s “Seller Exhaustion Composite” suggested that the market would stabilize. According to the indicator, which monitors actual losses incurred by recent Bitcoin traders, the current price decline may be nearing a bottom.
Strong on-chain indicators, institutional acceptance, and macroeconomic trends all point to sustained positive momentum as Bitcoin gets closer to the psychologically critical $100,000 milestone. Nonetheless, investors should always be cautious and do their homework.
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