Bitcoin is currently trading at the $67,500 level on Monday after touching an all-time high of $73,737 last week. The surge in price comes after the U.S. Securities and Exchange Commission (SEC) approved the Spot Bitcoin ETF in mid-January this year. Trillion-dollar-worth asset managers like BlackRock, Greyscale, and Fidelity, among others, provided BTC ETF services to their clients.
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A decade ago, it would have been unheard of that leading financial institutions want to be a part of the Bitcoin phenomenon. However, despite bashing blockchain technology over the years, they eventually entered the cryptocurrency market in 2024. Both retailers and financial institutions now want to eat the larger share of the pie that BTC has to offer.
The Next 10 Years Will Be Different For Bitcoin (BTC)
While the mainstream is acknowledging BTC in 2024, the larger acceptance will come through in the next 10 years. Many more investors would find Bitcoin attractive and accept it as a store of value. The development would help BTC to sustainably scale up in price and print new highs and profits to holders.
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SkyBridge Capital founder Anthony Scaramucci echoed the same sentiments highlighting that the next decade belongs to BTC. “So in the next 10 years, I see it like a big python where Bitcoin is going to get absorbed into the python. There will be a big bump up in Bitcoin demand and that’s coming inside of the next decade,” he said.
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Cryptocurrency tycoons like Michael Novogratz and Cathie Wood believe that BTC could reach $1 million in 10 years. The prediction comes at a time when youngsters are accumulating BTC over the years via the dollar cost averaging (DCA) method. This helps them have a lot of BTC and remain prepared to enjoy profits when the cryptocurrency market kick-starts the next bull run.