#BitcoinRise 📈 1. Bitcoin's Bullish Momentum
Bitcoin continues its upward trajectory, recently surpassing the $100,000 mark. This surge is attributed to factors like ETF approvals and increased institutional adoption.
Considering normal maturation, about double the time frame from $1,000 to $10,000 would come in around 2025, for Bitcoin to potentially add another zero.
Rising Bitcoin market cap increases demand
A large investment in Bitcoin by MicroStrategy in Q3 may be a mistake, or another iteration in the mainstream adoption of the benchmark crypto. Central banks have been big buyers of gold, absorbing about 20% of annual supply in 2019. The total value of gold is around $9 trillion vs. only about $190 billion for Bitcoin.
Bitcoin supply is fixed and declining on an annual percentage basis.
At less than $200 billion, the Bitcoin market is too small for many large institutions, including central banks, to add the crypto as part of their holdings, but if the market cap of Bitcoin increases, it becomes increasingly like a digital version of gold.
