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

Odaily News Despite the stagnation of Bitcoin prices, people are optimistic about the long-term prospects of Bitcoin. Bitcoin prices exceeding $100,000 may be the beginning of large-scale institutional adoption of Bitcoin, a trend that may last for 10 to 20 years. Samson Mow, CEO of Bitcoin wallet company Jan3 and founder of Pixelmatic, pointed out that the previous bull market was lackluster due to the backlog of trading platforms. However, with the launch of exchange-traded funds (ETFs), the obstacles to the inflow of traditional financial capital into Bitcoin no longer exist. At present, capital inflows have not yet been fully realized, and institutions have only just "dipped" in the cryptocurrency market.
BlackRock led a campaign for U.S. approval of spot Bitcoin ETFs in 2023, with a series of Bitcoin funds debuting in January 2024 and quickly becoming one of the fastest-growing ETFs ever. U.S. spot Bitcoin ETFs broke the $100 billion net asset mark for the first time in November last year, with BlackRock's iShares Bitcoin Trust (IBIT) leading the way with $60 billion, which holds nearly 600,000 bitcoins.