Several government agencies are boosting their investments in MicroStrategy stocks to avoid regulatory challenges associated with direct Bitcoin interactions. This trend signals a significant institutional shift towards Bitcoin-backed assets, as major funds like the Norwegian and Swiss sovereign funds lead the charge.
Analyst Geoffrey Kendrick suggests that based on the current market dynamics, Bitcoin prices might reach $500,000 in the future. His team’s target of $120,000 for Q2 could be an underestimation reflecting the growing acceptance of Bitcoin in mainstream finance.
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