Bitcoin (BTC) Adoption Surge Opens Doors for $63,000 Price Level in October

Bitcoin (BTC) Adoption Surge Opens Doors for $63,000 Price Level in October
  • Jamie Dimon, mentions that Bitcoin’s price may double in five years.
  • Coinbase will also allow customers to deposit paychecks directly in crypto.

This month has been a crypto high tide. Consequently, netizens expect a riskier September than usual. Industry insiders are unconcerned about the Chinese crackdown and the US infrastructure bill proposed. Despite restrictions, institutional belief grows. However, fans think the Chinese crackdown is not surprising. Moreover, netizens expect Bitcoin to bounce back.

Morgan Stanley is an investment bank. Grayscale’s BTC trust exposes the company to Bitcoin, and a recent SEC filing indicates so. Furthermore, it has purchased 58,116 more GBTC shares. The management thinks the digital asset can outperform other asset types.

Institutional Acceptance

JP Morgan Chase CEO Jamie Dimon, mentions that Bitcoin’s price may double in five years. Jamie, a prominent individual who is not a supporter of the system. Thousands of Verifone businesses in the US will now accept Bitcoin payments.

In El-Salvador, the Chivo wallet has more users than any bank, achieved in only three weeks. The wallet is anticipated to have more users than all banks combined. The Bitcoin Lightning Network has reached its ATH capacity in nodes, channels, and channel capacity.

BTC/USDT: Source: TradingView

Coinbase will also allow customers to deposit paychecks directly in crypto. American customers may deposit all or a portion of their wages. Users may also be compensated in any of the 100+ cryptocurrencies or USD. This is good news for the infrastructure bill.

In summary, institutional acceptance of the digital coin has been tremendous. Even if the price isn’t affected, it is helpful in the long term. The whale accumulation is also rising. Hopefully, BTC will reach $63,000 by October.

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A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.