US Companies Predicted to Buy $10 Billion BTC in 18 Months

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As a seasoned analyst with over two decades of experience in the financial sector, I have witnessed the rise and fall of numerous trends and technologies. However, the meteoric growth and potential of Bitcoin has piqued my interest more than any other market phenomenon in recent memory.

According to River Financial, a bank specializing in Bitcoin, it’s anticipated that approximately 10% of American corporations will invest around $10.35 billion into the leading cryptocurrency within the next 18 months

According to their latest analysis, the company predicts an increase in daily business Bitcoin holdings ranging from approximately 204 to 519 Bitcoins by the year 2026. This growth equates to a daily value between $12.2 million and $31.1 million at a Bitcoin price of $60,000

Currently, all businesses collectively possess approximately 700,000 Bitcoins, and this amount is increasing annually by around 150,000 Bitcoins

Businesses now account for 3.3% of Bitcoin’s total circulating supply. 

Notably, American companies account for almost half of total holdings. 

Based on information from CoinGlass, the Virginia-based company MicroStrategy leads all others with a massive $12.82 billion worth of assets held under its management

Bitcoin mining titan, Marathon Digital, ranks as the runner-up with approximately $1.41 billion in Bitcoin holdings

Tesla ranks among the top three companies with a sum of approximately $550 million from Bitcoin investments. Yet, it’s worth noting that the value of these holdings has decreased substantially compared to the initial Bitcoin wealth amassed by the company around early 202

According to U.Today’s report, MicroStrategy CEO Michael Saylor had earlier forecasted that the year 2024 would witness a significant surge in institutional adoption of Bitcoin

According to River’s observation, the widespread use of Bitcoin as a treasury asset has not yet become commonplace. However, in the year 2024, it saw substantial growth thanks to prominent companies introducing Bitcoin-related products

At the start of this year, a fresh wave of enthusiasm swept through the market upon the debut of Bitcoin Exchange-Traded Funds (ETFs). However, it’s worth noting that, despite the impressive performance of these ETFs, most enterprises have opted to directly own Bitcoins instead

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2024-09-05 22:10