Bitcoin Reaches New Heights as Institutional Interest Fuels Growth

Key Points

1. Bitcoin recently achieved a new peak of $123,091 USD before experiencing a 3% decline, settling around $118,832 USD.

2. Markus Thielen from 10x Research predicts Bitcoin could reach $140,000 to $160,000 USD by year-end, citing institutional investments and ETF activity.

3. US spot Bitcoin ETFs hold over 6% of the current Bitcoin supply, with institutions processing approximately $15 billion USD in transactions.

4. Steve Grasso, CEO of Grasso Global, notes Bitcoin's market value is around $2 trillion USD, compared to gold's $20 trillion, suggesting significant growth potential.

5. Experts highlight that Bitcoin's relatively low market value compared to gold offers room for potential appreciation, with some projections reaching $500,000 USD.