Bitcoin Dominance Hits 50%
• Bitcoin’s [BTC] dominance has reclaimed the important 50% level for the first time since April 2021.
• Michael Saylor of MicroStrategy believes that Bitcoin will maintain strong dominance and perhaps even grow to over 80%.
• Regulatory clarity is expected to drive adoption by eliminating confusion and anxiety that has held back institutional investors.
Bitcoin’s Prospects Look Bullish
Bitcoin’s performance looks promising based on historic trends, which show that its dominance drops during bear markets and surges as BTC recovers. This coincides with recent observations where Bitcoin’s dominance has been rising in recent days.
Michael Saylor’s Thoughts On Bitcoin
Michael Saylor of MicroStrategy recently offered some insights regarding Bitcoin’s potential future prospects. He believes that BTC will maintain strong dominance and potentially grow to over 80%, driven by a growing hash rate and improving regulatory environment. Furthermore, he believes regulatory clarity will drive adoption by eliminating confusion and anxiety that has held back institutional investors.
Institutional Demand For BTC
Despite this optimism, however, there is still work to be done in order for institutional demand for BTC to recover from the crash of 2022. Fortunately, the regulatory situation seems to be improving, so it may well turn a new leaf in terms of institutional demand for the king coin soon enough.