Crypto analyst Mags laid out a compelling case for why Bitcoin is poised to reach $100k in a recent tweet thread. He pointed to several key adoption drivers that suggest Bitcoin’s next leg up is imminent.
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Growing Institutional Adoption
Mags noted that major companies like Honda, Ferrari, and Tesla are now accepting crypto payments. Tesla revealed they held their Bitcoin in Q3 without selling any.
Large banks are also getting involved. Nomura launched a Bitcoin fund in Japan for institutional investors. As Mags states, “Less than 5% of the global population is invested in Crypto (we are soo early).”
Supportive Regulations and Infrastructure
The regulatory environment is becoming more supportive as well. Mags highlighted that Coinbase received approval to offer crypto derivatives trading internationally. It also received a full operating license in Singapore.
Crypto infrastructure is expanding with Hong Kong launching its first regulated Bitcoin and crypto trading platform. All of this points to growing mainstream adoption.
Bitcoin Fundamentals
Beyond adoption, Bitcoin’s fundamentals remain strong. Mags noted the upcoming Bitcoin halving in less than 180 days will create a supply shock. Meanwhile, Bitcoin bears are still waiting for a dip to $12k that never materialized.
With all these bullish factors, Mags sees Bitcoin marching towards $100k. The macro environment and increasing adoption provide the ideal runway for new all-time highs.
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