Analysis: $100,000 may mark the beginning of institutional large-scale adoption of Bitcoin, and this trend could continue for 10 to 20 years.

Odaily Planet Daily News: Despite the stagnation in Bitcoin prices, there remains an optimistic outlook on Bitcoin's long-term prospects. The breakthrough of Bitcoin prices exceeding 100 thousand dollars could mark the beginning of widespread institutional adoption of Bitcoin, a trend that may last for 10 to 20 years. Samson Mow, CEO of Bitcoin wallet company Jan3 and founder of Pixelmatic, pointed out that the previous bull market was subdued due to issues with exchange platform backlog. However, with the launch of exchange-traded funds (ETFs), the barriers for traditional financial capital to flow into Bitcoin have been eliminated. Currently, the capital inflow has not yet fully materialized, and institutions are just beginning to "dip their toes" into the cryptocurrency market.

BlackRock led a campaign in 2023 to gain U.S. approval for a spot Bitcoin ETF, with a series of Bitcoin funds set to debut in January 2024, quickly becoming one of the fastest-growing ETFs in history. The U.S. spot Bitcoin ETF first broke through the 100 billion dollars net asset threshold last November, with BlackRock's iShares Bitcoin Trust (IBIT) leading the way at 60 billion dollars in size, holding nearly 600 thousand Bitcoins.