21Shares: Bitcoin has even greater upside potential this year

According to a report by Golden Finance, although the price of Bitcoin is hovering at a slightly lower level than its historical high in January this year, digital asset ETF issuer 21Shares believes that there is still greater room for Bitcoin to rise this year. In a report released on Monday, Matt Mena, a research strategist at 21Shares, wrote, "Bitcoin is on the brink of a breakthrough." He believes that the current Bitcoin rally is not driven by retail frenzy, but by multiple structural forces, including institutional capital inflows, historic supply tightening, and improved macroeconomic conditions. These factors indicate that Bitcoin will follow a more sustained and mature path, hitting new historical highs. The continuous absorption of Bitcoin by spot Bitcoin ETFs exceeds the daily mining output, further tightening the supply. At the same time, major institutions, companies like Strategy, and newcomers like Twenty One Capital are constantly accumulating Bitcoin, and even some countries are exploring the establishment of strategic reserves. Mena predicts that the combined effect of these factors may cause Bitcoin to rise to $138500 this year.