On May 23, Bitwise and UTXO jointly shared their forecast for institutional Bitcoin adoption by the end of 2026, predicting growing institutional adoption of the biggest cryptocurrency amid the current bull cycle.
Bitcoin’s Growing Institutional Adoption
The forecast states that nation-states and institutions are expected to accumulate 4,269,000 Bitcoins, which are worth around $426.9 billion at the current valuation. This is approximately 20.32% of the total supply of Bitcoins (21 million).
Under the U.S. President Donald Trump’s pro-cryptocurrency administration, the crypto market is witnessing a historic rally. It helped Bitcoin to break the most anticipated psychological barrier of $100,000.
The reason behind the rally in BTC and major cryptocurrencies is mainly fueled by growing adoption among institutional investors and demand for exchange-traded funds (ETFs).
For example, Bitcoin ETFs like Grayscale’s Bitcoin Trust (GBTC) are currently holding roughly 4% of the total supply. This equals about 776,464 Bitcoins, valued at approximately $47.7 billion.
Apart from this, U.S. states such as New Hampshire and Arizona have already passed legislation to form a Bitcoin reserve at the state wise. Alongside this, Donald Trump also signed an executive order in March to form a national strategic Bitcoin reserve by using seized Bitcoins.
Globally, many countries are actively acquiring Bitcoins to increase their stash and gain economic stability. For instance, El Salvador made Bitcoin a legal tender to promote financial inclusion, increase the efficiency of remittances, and boost private investments.
Also Read: Justin Sun Refutes Allegations on $TRUMP, States Memecoin Has Its ‘Value’
GoogleNews