After the integration of the Tesla-Bitcoin payment, analysts advised traditional companies to secure their position in the cryptocurrency market or risk losing it completely. The Bitcoin market is now worth $ 1 trillion, but this value is expected to reverse the valuation of major tech companies such as Apple and Microsoft.
Even though these companies have been in the market longer than Bitcoin, the asset is outperforming them almost on a daily basis. It is clear this is their time to acquire Bitcoin and share a slice of the pie, before the competitors go their own way and definitely overtake them.
The supply of Bitcoin may decline faster than we think
This line of thinking is shared by many analysts, some of whom have gone on to speculate on the outcome of losing on the highly successful Bitcoin market. To show that companies will be forced to fight for fractions of a coin, Bitcoin in this case, on-chain analyst William Clemente estimates how much space they will take up in the market. He stated this in a Twitter post saying that:
“Let's assume that Apple / Google / Microsoft each invest 5% of their liquidity reserves in Bitcoin. They would devour the entire Coinbase order book from now to $ 100.000, 40 TIMES MORE ".
Are traditional businesses ready for Bitcoin?
Clemente is not the only one who believes that investing in Bitcoin is now a fundamental step to take for institutions. Joseph Young recently said that companies like Apple, with billions of dollars in valuations, would save them from losing funds due to inflation.
However, demand may be the only factor influencing these companies enough for them to consider a digital currency like Bitcoin. While no official data has been presented, from the performance of companies that have integrated Bitcoin, many Apple, Google and Microsoft users may be open to the idea of making payments in Bitcoin or other digital assets, if given the opportunity.
Although Microsoft seems to be considering the idea as we have already mentioned in another post, others have yet to give directions. The house that produces xBox, in fact, could soon offer its users the possibility of buying games and subscriptions online thanks to the main digital currency.
Next month, the big news could come out as Coinbase finally goes public. In a previous report, we noted that inside sources revealed that some traditional tech companies are also investing in Bitcoin privately (but their names are not yet known). If this were to be true, more institutional money could come to market next month. All this, of course, would make them jump to the evaluation of the digital currency.
At the moment, Bitcoin continues to thrive and the road to $ 60 seems to have been drawn. Although the market is seeing a decline which, according to analysts, is the result of the whales' attempt to deliberately create a landfill.