Richard Ting, CEO of Binance, tweeted predictions about Bitcoin, the first and largest encrypted currency depending on the market value. Bitcoin’s “upward momentum” is expected, and both countries and companies urge to behave now or “risk payment at a later time.”
In a tweet posted on the official X account, Teng I mentioned“Countries and companies that buy early Bitcoin will benefit from the bullish momentum. Those who delay the risk of adoption pay a bonus at a later time.”
TENG comments come at a time when Bitcoin is gaining strength, with an increase in institutional demand and increasing attention from sovereign wealth funds and the nation -state. However, recently, bitcoin price has been largely weight due to the total economy concerns, as it decreased by approximately 21 % of its highest level at $ 109,114 in January this year.
Not only does the Teng tweet as market expectations, but also as a warning: Early engines will get more than others, while those who are late may risk buying at a much higher cost.
The institutional interest continues to grow
As I mentioned earlier by UTDay, BitWise data shows that companies currently own about 688,000 Bitcoins, or 3.28 % of the total BTC supply, which was directed at 21 million coins.
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The strategy is still the clear leader, as it outperforms other major companies with a large margin.
Last week, Michael Celor’s strategy bought an additional $ 28.8 million in Bitcoin. From April 7 to April 13, the strategy bought 3,459 Bitcoin at an average price of about 82,618 dollars. According to Bloomberg data, the company spent $ 7.79 billion on Bitcoin in the first quarter. The strategy mentioned nine purchases in the same period.
At the time of the press, Bitcoin has increased by 0.71 % in the past 24 hours to 85,816 dollars.
