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Bitcoin Price Predictions and Institutional Adoption
Coinbase CEO Brian Armstrong recently predicted that Bitcoin could reach $1 million within five years, implying a compound annual growth rate (CAGR) of 55%. Currently, Bitcoin is priced at $114,000 and has only seen a 20% increase this year.
A significant driver behind this optimism is increasing institutional adoption, with over $100 billion poured into spot Bitcoin exchange-traded funds (ETFs) in less than a year. Companies that accumulate Bitcoin treasury hold over 1 million bitcoins, accounting for about 5% of the total supply. Additionally, the U.S. government is positioning Bitcoin as a strategic asset, launching a Strategic Bitcoin Reserve for future accumulation.
Despite the bullish sentiment, current online prediction markets suggest a 22% chance of Bitcoin reaching $150,000 this year and a more likely target of $125,000, potentially marking another all-time high.
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