Mainstream adoption of Bitcoin (BTC) has moved from individual traders to institutional investors and is now targeting countries. The ongoing shift from traditional financial institutions to web3 protocols has grown the cryptocurrency industry size to over $3.82 trillion, surpassing the valuation of Apple Inc. (NASDAQ: AAPL) for the first time this bull cycle.
As the price of Bitcoin rises above $100,000 for the first time in history, more experts believe that a 10-fold rise to $1 million will be much faster than before. Additionally, cash inflows into cryptocurrency investment products are at record highs, driven by the spot ETF market.
Countries with Strategic Bitcoin Holding Countries
Following the incredible success of El Salvador, which has been purchasing 1 Bitcoin per day since 2022, more countries are exploring ways to legalize the adoption of BTC and digital assets. Earlier this week, Russian President Vladimir Putin said Bitcoin is here and has a bright future.
In the United States, the incoming Trump administration is expected to legislate clear cryptocurrency regulations to promote mainstream adoption of Bitcoin and digital assets. More U.S. states and countries will soon enact legislation on strategic Bitcoin reserves, according to Dennis Porter, CEO and co-founder of the Satoshi Action Fund, which is helping write Bitcoin law. They say they are ready.
Porter noted that up to 11 states and two nation-states are ready to introduce strategic Bitcoin reserve legislation. The adoption of Bitcoin at the state level is expected to serve as a neutral financial layer between the BRICS and US-backed SWIFT ecosystems.
Bitcoin price could face a 25-30% correction after reaching $100,000, in line with past market cycles. This drop could be a strategic buying opportunity for both Bitcoin and altcoins.
Bitcoin’s rise above $100,000 was fueled by strong market sentiment, high trading volume, and optimism driven by cryptocurrency-friendly policies. However, technical indicators suggest a potential pause as RSI approaches overbought levels.