Binance CEO Richard Teng Predicts Bitcoin Upswing, Warns of Late Adoption Risks
Binance CEO Richard Teng Predicts Bitcoin Upswing
Binance CEO Richard Teng has predicted an upward momentum for Bitcoin, advising countries and corporations to invest early to avoid paying a premium later. His comments come as Bitcoin gains traction with institutional investors and sovereign wealth funds, despite recent price drops.
Institutional Interest Continues to Grow
Institutions are increasingly embracing Bitcoin, with corporations holding approximately 688,000 BTC, representing 3.28% of the total supply. Strategy, led by Michael Saylor, recently purchased an additional $285.8 million in Bitcoin, bringing their Q1 expenditure to $7.79 billion.
Bitcoin's Current Market Context
Bitcoin currently trades at $85,816, reflecting a 0.71% increase over the past 24 hours. Despite macroeconomic concerns, growing institutional demand and early adoption by major players signal confidence in Bitcoin's long-term potential.
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