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Binance CEO Richard Teng recently tweeted a prediction about Bitcoin, the first and largest cryptocurrency by market capitalization. Teng anticipates "upward momentum" for Bitcoin, urging both countries and corporations to act now or "risk paying a premium later."
In a tweet posted to his official X account, Teng stated, "Countries and corporations that buy Bitcoin early will benefit from the upward momentum. Those who delay adoption risk paying a premium later."
Teng's comments come at a time when Bitcoin is gaining traction, with rising institutional demand and growing interest from sovereign wealth funds and nation-states. However, recently, the Bitcoin price has been largely weighed down by macroeconomic concerns, dropping nearly 21% from its all-time high of $109,114 attained in January this year.
Tomiwabold OlajideTeng's tweet serves not only as a market prediction but also as a warning: early movers stand to gain the most, while those who delay may risk buying at a much higher cost.
Institutional interest continues to grow
As previously reported by UToday, Bitwise data shows that corporations currently own about 688,000 Bitcoins, or 3.28% of BTC's total supply, which is capped at 21 million coins.
Yuri MolchanStrategy remains the clear leader, outperforming other major corporations by a substantial margin.
Last week, Michael Saylor's Strategy purchased an additional $285.8 million in Bitcoin. From April 7 to April 13, Strategy purchased 3,459 Bitcoin at an average price of around $82,618. According to Bloomberg data, the corporation spent $7.79 billion on Bitcoin in the first quarter. Strategy reported nine purchases in the same period.
At press time, Bitcoin was up 0.71% in the last 24 hours to $85,816.
Vladislav Sopov
Dan Burgin