We can't deny the fact that crypto is getting more attention day by day and the last 2 years have been a game-changer in this journey. When we think of crypto the first thing that comes in mind is Bitcoin. Its because this is a first-ever crypto token and now we have almost 10k or more coins but still Bitcoin has its following. Since people have more love for Bitcoin so it keeps on growing and its expected that it will reach 100K USD by end of 2022. Although this is a prediction it will not be a surprise if it happens before 2022 because anything is possible in the crypto space.
Every investment coming in the crypto contributes to a marketcap increase which leads to a price increase since this market is not controlled by any entity and prices are determined on the basis of supply and demand. Although any investment is good but institutional investors will make things better since they invest a bigger amount and we have seen it happening in 2020 and 2021 from Tesla and Microstrategy. Usually, such big companies buy crypto for longer-term but again there is no such agreement and if things go well then they also cash out easy which will put the price down. Interesting thing is that such gainst are buying Bitcoin only and rarely I have seen any big company buying altcoins.
Today its a hot news that Microstrategy has purchased 5050 bitcoin worth $242.9 million and this purchase has happened at the average price of 48099 USD for each bitcoin. Microstrategy is one of the biggest holders of Bitcoin and their buying at this price shows that they are bullish on Bitcoin. Its obvious that they will be selling when there is decent profit and they are holding 114k Bitcoins as of now.
Institutions have been at the forefront of the crypto bull run seen since Q4 2020, but now retail investors have been taking the center stage as well. Bitcoin (BTC) is getting more popular all around the world and it officially became a legal tender in El Salvador on Sept. 7, making it a landmark event for retail and sovereign adoption of the asset.
Coming more money to Bitcoin from institutional investors will pull the price high and it will not be a surprise if we can see bitcoin 100k by end of this year only. Last year in 2020 when Tesla made the buy that time Bitcoin's price was almost 20k but it went higher and reach its all-time high with 65k USD which was a significant price move.
There are so many companies that are eyeing to enter in crypto and after the Al Salvador announcement, this is getting even better. Its a big decision for any country to adopt crypto as legal tender and they must have done their research so its a good reason for many institutions to make their move towards crypto.
Some experts say that bitcoin will be worth 200k USD in 2025. It can be a possibility but for that Institutional investment is required and if it happens then we can see the bitcoin price breaking its all-time high records soon. We are in September month of the year 2021 and since the last few years, I have seen that the last quarter plays an important role in the price increase. So we can expect something great happening in crypo prices and if not 100k then I expect we should be crossing 70K this year.
You never know of any giant decide to enter and in that case its difficult to predict the next bitcoin price as of now.
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