Bitcoin is on its way to $100,000 faster than you think, but many might argue otherwise:
1. Bitcoin has dropped 33%, signaling the end of the bull run.
2. Big players like the German government, Mt. Gox, and FTX creditors are offloading their Bitcoin.
3. The Bank of Japanâs rate hikes will trigger a global market collapse.
However, hereâs what you might not know:
1. The German government has no Bitcoin left to sell, and Mt. Gox and FTX creditors arenât selling.
2. The Bank of Japan has halted further rate hikes.
3. The Fed is expected to cut rates in September, which could mean more liquidity in the market.
4. Cryptocurrency is becoming a hot topic in politics. Trump, Kennedy, and even Harris are getting on board.
5. Bitcoin is being discussed in the Senate, with Senator Lummis proposing a Strategic Bitcoin Reserve bill aiming to accumulate 1 million Bitcoin over the next five years.
6. Several states, including Oklahoma and Missouri, have passed bills to protect Bitcoin rights, with others like Ohio, South Carolina, and Tennessee considering similar legislation.
7. Institutions are buying up Bitcoin. MicroStrategy is raising $2 billion, Metaplanet is raising 10 billion Yen, and Semler Scientific is continually adding Bitcoin to its portfolio.
8. Bitcoin and Ethereum ETFs are thriving. The Bitcoin ETF has accumulated over $50 billion in on-chain holdings in just six months, and the Ethereum ETF has $6.6 billion within 12 trading days.
9. Over 700 institutions reported holding Bitcoin through Bitcoin ETF shares in Q1 2024.
10. Morgan Stanley is recommending Bitcoin ETFs to its wealthiest clients, with 15,000 financial advisors on board.
The world is beginning to embrace Bitcoin. If youâre still bearish, you might be too focused on the short term. Step back, zoom out, and see the bigger picture.
