While BTC’s adoption grows, it has few applications beyond means of payment. PlutoChain (PLUTO) aims to expand Bitcoin’s use cases through smart contract functionality and a cross-chain bridge.

MicroStrategy’s BTC Maximalism

Michael Saylor, the leader at MicroStrategy, is a well-known BTC advocate. The company’s 2020 purchase of 21,454 Bitcoin, worth $250 million, was met with skepticism by some.

Yet, over time, MicroStrategy’s Bitcoin-centric strategy has yielded significant returns. The company’s stock price has increased by 2,721% over the past five years.

MicroStrategy also strongly supports a BTC strategic reserve and predicts that the US could generate $16 trillion from investing $1 million in BTC.

Inspired by MicroStrategy’s success, Japanese investment firm Metaplanet has acquired 1,000 BTC, valued at around $92.3 million. The company aims to raise $42 billion by 2027 through stock sales for future BTC investments.

Inflows Into BTC ETFs Exceed $30.70 Billion

Total inflows into US Bitcoin ETFs have reached $30.70 billion. BlackRock’s IBIT ETF, with $31.74 billion in inflows, is the primary contributor. Fidelity’s FBTC ETF follows closely behind with $11.45 billion in inflows. However, Grayscale’s NYSE fund saw $20.52 billion in outflows since summer.

BlackRock’s BTC holdings surpassed $44.43 billion, which is roughly 2.51% of BTC’s market value. Collectively, US investment firms hold over 6% of BTC’s total market share.

Some individuals, particularly those new to cryptocurrency, view the interest of traditional financial institutions in BTC as an endorsement. Furthermore, ETFs offer a less volatile and more accessible way to invest in BTC than direct ownership.

If institutional adoption continues to grow at the same pace, BTC could reach $150,000 in 2025.

Technical Indicators Show BTC Could Reach $130,000

Although BTC didn’t break above the $100,000 resistance zone, moving averages and the Average Directional Index (ADX) suggest that its upward momentum could continue over the long term.

On the other hand, oscillators are mixed, so BTC may experience another correction if it faces resistance at $98,065.

Earlier this year, analysts noticed a ‘cup and handle’ formation on BTC’s price graph, which historically signalled a bullish breakout. Based on projections, BTC might soon reach $130,000.

PlutoChain Could Expand Bitcoin’s Capabilities by Potentially Integrating New Applications

Although investment firms and banks adopt BTC, they primarily view it as a reserve asset. Ethereum still holds the biggest share of the dApp market.

With the introduction of smart contracts, the Layer-2 network PlutoChain could expand Bitcoin’s functionality. This would allow developers to create native dApps on Bitcoin or port them from Ethereum.

Solid Proof’s audit of PlutoChain’s codebase revealed no serious security vulnerabilities. This means that PlutoChain offers a reliable toolkit that could potentially expand Bitcoin’s ecosystem.

Currently, the total value locked in the Bitcoin finance (BTCFi) industry is just 0.13% of BTC’s $1.92 trillion market capitalization. If BTC’s price reaches $150,000, its capitalization will surpass $2.80 trillion.

Final Words

The Bitcoin ecosystem has evolved significantly over the years, but its development is still in its early stages. PlutoChain could be the next step in its evolution. With growing adoption by developers and institutions, BTC may soon surpass the $150,000 mark.

Visit the links below to learn more about PlutoChain and its unique features:

Official Website: https://plutochain.io X/Twitter Page: https://x.com/plutochain/  Telegram Channel: https://t.me/PlutoChainAnnouncements/  Please remember that this article is purely informational and not financial advice. Any and all cryptocurrencies are volatile, with prices prone to rapid changes. Always do your own research and consult an expert before joining any crypto venture. We are not liable for any outcomes based on the information in this article. Statements about the future entail risks and may not reflect updates.

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