• The Bitcoin era matures as more countries adopt Bitcoin alongside gold.

  • Bitcoin gains popularity as a reserve asset for several nations and institutions.

  • The price of BTC could hit a new ATH target of $137,000 soon.

With all concerns of an impending war dissipating, the price of BTC continues to climb up and is currently at the $107,700 price range. This stability is drawing back attention to the pioneer Bitcoin asset and as more countries alongside the US begin to adopt Bitcoin alongside gold as a reserve asset, the Bitcoin era matures. Several factors weigh into this escalated BTC accumulation, marking Bitcoin as digital gold, a promising asset. 

Bitcoin Era Matures as More Countries Adopt Bitcoin 

SInce the last bull cycle, Bitcoin has been gaining more and more recognition. Starting from when El Salvador’s President, Nayib Bukele, announced that Bitcoin would be a legal tender within its borders in 2020, before the previous bull market began, several other nations scrambled to follow their lead. Despite the few countries that also accumulated BTC, the biggest accumulation came from El Salvador. 

So dedicated was El Salvador to Bitcoin's cause that the country continues to heavily accumulate Bitcoin till today. Despite the International Monetary Fund (IMF) trying to slow down its BTC accumulation, El Salvador has seen what changes Bitcoin can bring and continues to buy more despite external efforts to slow them down. Presently, in the ongoing bull cycle, other nations, and in this bull cycle, institutions like BlackRock have joined in the BTC accumulation race.  

https://twitter.com/Cointelegraph/status/1938006830233342017

As we can see from the post above, the post highlights how the US and others are adopting Bitcoin alongside gold as a reserve asset. Furthermore, the post draws light to the factors behind why Bitcoin adoption is gaining more popularity. In detail, the post says that these factors that make Bitcoin a popular asset to hold are its scarcity, inflation hedge, and digital resilience. 

Responses to the post show the crypto community proudly calling this moment as a maturing stage for the Bitcoin era. Another comment states that Bitcoin has graduated from a rebel asset to a sovereign collateral. Additionally, the same comment says that Bitcoin has come a long way since the same governments that once outlawed the asset are now institutionalizing it as a strategic reserve. 

$137,000 Next ATH Target for BTC

https://twitter.com/Washigorira/status/1937892249461051405

His growing popularity and legal Bitcoin accumulation on the national level can soon propel the price of Bitcoin (BTC) to much greater highs. As we can see from the post above, this reputed crypto analyst believes that the price of BTC is on its way to hitting a much higher ATH target of $137,000 based on a bull flag formation on the BTC daily chart and a bullish MACD crossover set to occur. 

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#BTC #IMF