View: $100,000 may be the beginning of large-scale adoption of Bitcoin by institutions, a trend that may last 10 to 20 years

PANews February 21 news, according to Forbes, although the price of Bitcoin has stagnated, people are still optimistic about the long-term prospects of Bitcoin. Bitcoin price exceeding $100,000 may be the beginning of large-scale adoption of Bitcoin by institutions. This trend may last 10 to 20 years. Samson Mow, CEO of Bitcoin wallet company Jan3 and founder of Pixelmatic, pointed out that the previous bull market was dull due to the backlog of trading platforms. However, with the introduction of exchange-traded funds (ETFs), barriers to traditional financial capital flowing into Bitcoin are no longer there. At present, capital inflows have not been fully realized, and institutions have just "get in" the cryptocurrency market.

BlackRock led a campaign to win U.S. approval of spot bitcoin ETFs in 2023, with a series of bitcoin funds debuting in January 2024 before quickly becoming one of the fastest growing ETFs ever. US spot Bitcoin ETF broke the net asset mark of US$100 billion for the first time in November last year, with BlackRock's iShares Bitcoin Trust (IBIT) leading the scale of US$60 billion, and the fund holds nearly 600,000 Bitcoins.