BlockBeats News, May 20th, according to CoinDesk, despite Bitcoin's price hovering slightly below this year's January high, digital asset ETF issuer 21Shares believes Bitcoin still has more room to grow this year.
21Shares research strategist Matt Mena wrote in a report released on Monday: "Bitcoin is on the brink of a breakthrough." He believes that the current Bitcoin rally is not driven by retail frenzy but by multiple structural forces working together, including institutional inflows, historical supply tightening, and an improving macroeconomic environment. These factors suggest that Bitcoin will follow a more sustainable, more mature path towards a new all-time high.
The amount of Bitcoin continuously absorbed by spot Bitcoin ETFs exceeds daily mining output, further tightening the supply. At the same time, major institutions, companies like Strategy, and newcomers like Twenty One Capital are also accumulating Bitcoin, and even some countries are beginning to explore establishing strategic reserves.
Mena predicts that the combined effect of these factors could drive Bitcoin to $138,500 this year.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.