By now the entire world is well aware of the potential and the growth that Bitcoin (BTC) possesses when it comes to public rallying on the platform. For the past several weeks, it has been observed that Bitcoin (BTC) has been gaining a significant increase in its price and demand.
At the time of publishing, Bitcoin (BTC) has managed to hit an all-time high of $57.5k per BTC and the price is constantly increasing for the asset.
The main driver behind the surge in the price of Bitcoin (BTC) is Tesla, whose admittance last week came as a shock to the entire world. It was last week when Tesla announced that it had invested $1.5 billion in Bitcoin (BTC), which was the 8% of its cash reserve funds.
Right after that, large groups of mainstream institutions swarmed to the Bitcoin (BTC) platform, which resulted in Bitcoin’s price experiencing a significant rise in its price.
Since the last week’s announcement made by Tesla, Bitcoin (BTC) is experiencing a surge in its price and is becoming increasingly bullish. According to the latest reports, a company from Germany has announced that it is going to invest its cash reserves into Bitcoin (BTC).
Following the reports from Germany, another great news came in from Canada where the first-ever Exchange Traded Fund (ETF) for Bitcoin (BC) was listed and launched through Ontario Stock Exchange.
It has been reported that Canada is set to launch another ETF for Bitcoin (BTC) that will be launched by the beginning of next week. The following Bitcoin ETF is reportedly set to launch through the same “Ontario Stock Exchange”.
It has been revealed that the initial Bitcoin (BTC) ETF launched at the beginning of the current week observed a trading volume of $220 million right after the launch.
While the above proceedings from around the world continue to trigger a surge in Bitcoin (BTC) prices, Elon Musk is also playing a role in this surge. In recent weeks it has been observed that a single Tweet made by Elon Musk for any stock or crypto results in a huge rally for that asset.
This time again, Elon Musk has shared a tweet that has resulted in huge investor crowds rallying up to the Bitcoin (BTC) platform. With such a promising rise in Bitcoin’s price, the hodlers and whales are now hoping to see Bitcoin (BTC) go as high as $100,000.
According to many analysts, that figure is also not very far big the seeds that MicroStrategy sprinkled among 14,000 mainstream institutions are soon to grow. Once that happens, Bitcoin (BTC) prices will go sky-rocket and it will be experiencing all-time highs for a very long time.