Bitcoin is on track to hit $100,000 sooner than you might expect. While some may argue that:
đ1. Bitcoin has dropped 33%, signaling the end of the bull run.
đ2. Major entities like the German government, Mt. Gox, and FTX creditors are offloading their Bitcoin.
đ3. The Bank of Japan's rate hikes could trigger a global market collapse.
But here's what you might not know:
1. The German government has already sold its Bitcoin, and neither Mt. Gox nor FTX creditors are selling.
2. The Bank of Japan has halted rate hikes.
3. The FED is expected to cut rates in September, meaning more liquidity in the market.
4. Crypto is becoming a focal point in U.S. elections, with figures like Trump and Kennedy supporting it, and even Harris joining the conversation.
5. Bitcoin has gained traction in the Senate, with Sen. Lummis proposing a Strategic Bitcoin Reserve bill to accumulate 1 million BTC within five years.
6. Several states, including Oklahoma and Missouri, have passed bills to protect Bitcoin rights, with more states proposing similar legislation.
7. Institutional interest is soaringâMicrostrategy is raising $2 billion, Metaplanet is raising 10 billion Yen, and Semler Scientific continues to buy Bitcoin.
8. Bitcoin and Ethereum ETFs are flourishing, with Bitcoin ETFs holding over $50 billion on-chain within six months and Ethereum ETFs securing $6.6 billion in just 12 trading days.
9. Over 700 institutions reported holding Bitcoin via ETF shares in Q1 2024.
10. Morgan Stanley is actively recommending Bitcoin ETFs to its wealthy clients through its 15,000 financial advisers.The world is increasingly adopting Bitcoin.
If you're still bearish, you might be too focused on the short term. Take a step back, zoom out, and see the bigger picture.