Bitcoin is emerging as a leading candidate in the cryptocurrency industry, with analysts predicting a huge rise in its adoption rates. According to famous analyst Willy Wu, BTC is about to make a huge leap, expected to match the Internet's growth trajectory from 1997 to 2005.
What does a billion bitcoin holders mean
Wu believes this seismic shift in adoption has been brewing for years. For this reason, Wu asserted that “a billion people will own Bitcoin by the end of this cycle.” He highlighted the accelerated rate of adoption of digital currency, which exceeds the rate of adoption in the beginnings of the Internet.
Given the accelerating acceptance of Bitcoin around the world, crypto expert Adam Back suggested that the market is aiming for a much loftier target, with $100,000 seen as “too late.”
“Bitcoin crossed $73,000 on Tuesday. No one said anything. It spent most of Wednesday above $73,000. I think the reason things are silent is because $100,000 seems pretty late, a few years ago now, so there’s not much "From euphoria in a bull market with green candles running between $1k and $5k."
ETFs introduced the first cryptocurrency as a viable institutional investment
CryptoQuant CEO Ki Young Ju also noted that a “sell-side liquidity crisis” looms if institutional inflows continue. This surge in demand, coupled with the successful launch of spot Bitcoin exchange-traded funds (ETFs) in the US, has validated BTC as a viable institutional investment, and presented a model in which demand may soon outstrip supply.
