Bitcoin is a store value asset that becomes the most wanted coin. Many new investors put on big money on bitcoin. They believe that bitcoin will be the digital gold. What makes bitcoin has high store of value?
There are many reasons why the price of bitcoin increase and will hit the 100 K USD from many prediction.
Demand of bitcoin increases
It is shown by giant companies that put big money on bitcoin. Here are the top 5 big companies that store bitcoin.
- GrayScales Bitcoin Trust
The asset value of bitcoin is 546,544 BTC or about 10.5 billion USD. The value covers 2.6 % of bitcoin circulating supply.
- one
Block one is a big player in cryptocurrency. Block one bitcoin holding is about 140,000 BTC. The value is USD is about $ 2.69 Billion. It covers about 0.66 % of bitcoin marketcap.
- Coinshares / XBT Provider
The company owns about 69,730 BTC. The value of asset today is around 1.34 Billion USD. The shares of holding is around 0.33%.
- Microstrategy
Microstategy bitcoin holding is about 40,824 BTC. Bitcoin price is expected to continue to rise. With many large companies buying bitcoin, they indirectly back up the price of bitcoin with the value of the assets they own. The asset value of in USD is about 785 million or about 0.19 %.
- The Tezos Foundation
Tezos with LEDGER wallet for its product, has put large investment on bitcoin. The company has about 24,808 BTC. It takes 0.11 % shares and the value is about $ 477 million.
Bitcoin network is proved to be immutable
Bitcoin was launched in 2009. From the early development, bitcoin network has experienced some debates over the scaling size. The worst was when hardfork of bitcoin cash ( BCH). Bitcoin developers continue to make bitcoin network better with lightning network. There are some hardforks that create new coins like bitcoin gold, bitcoin diamond and other small bitcoin hardfork. Those hardforks do not influence the bitcoin network. It shows that bitcoin network is immutable. This advanced network becomes the strong attraction to investors.
More merchants and companies accept bitcoin
The growth of bitcoin merchants that accept bitcoin give the more value to bitcoin. Paypal announcement of accepting bitcoin in the paypal wallet has a lot of impacts to million paypal users. That is a good news for bitcoin in the market that triggers the rise of the price.
Bitcoin will hit $100 K
In 2009, bitcoin price is under $1 in the early launching. No one can predict that the price of bitcoin will hit $20 K today. Ones who stored a lot of bitcoin in the early development, they are now millionaires. The reasons make sense if more companies put their money on bitcoin. When bitcoin hit $100 K, they will earn huge profit for just storing bitcoin in the wallet.
