Buy as much Bitcoin as you can before $100,000

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Today, Fox Business' Eleanor Terrett <a target="_blank" href="https://www.foxbusiness.com/money/pennsylvania-house-introduces-bill-implement-strategic-bitcoin-reserve”>revealed that the Pennsylvania House of Representatives is introducing legislation that would effectively allow the state to hold bitcoin on its balance sheet as a strategic reserve asset.

SCOOP: Today, the Pennsylvania House of Representatives introduced legislation that would allow the state to hold bitcoin on its balance sheet as a reserve asset in a broader move to recognize <a target="_blank" href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc as a store of value.

full article on <a target="_blank" href="https://twitter.com/FoxBusiness?ref_src=twsrc%5Etfw”>@FoxBusiness soon.

-Eleanor Terrett (@EleanorTerrett) <a target="_blank" href="https://twitter.com/EleanorTerrett/status/1857084560665628956?ref_src=twsrc%5Etfw”>November 14, 2024

The Overton window finally changed last week and now seemingly everyone is scrambling to adopt btc as a reserve asset. From the looks of it, it feels like a snowball rolling down a hill, gaining more momentum and getting bigger as it travels.

Here's how this could happen:

First, ordinary people used bitcoin as a long-term savings vehicle.
MicroStrategy became the first publicly traded company to adopt it
El Salvador became the first country to adopt it
Corporations launched spot ETFs
US President-Elect Commits to Creating a National btc Reserve
US states are introducing legislation to adopt a btc reserve
Foreign Nations Rumored to Be Buying bitcoin to Lead the US

This list will continue to grow. I suspect that more US states, specifically more conservative ones, will follow Pennsylvania's lead in the future by introducing the same or similar legislation. The benefits of adopting bitcoin have become impossible to ignore.

Remember, 94.20% Of the total supply of 21 million bitcoins have already been issued.

It is estimated that between 3 and 5 million of these coins have been lost forever.
US Spot bitcoin ETF <a target="_blank" href="https://x.com/JSeyff/status/1857089998614335761″>hold 1.07 million btc
MicroStrategy has 279,420 btc
United States has 208,109 btc
Several other countries hold large amounts of btc
Tons of public and private companies are large amounts of btc
? amounts of btc owned by ordinary people around the world

Many years ago I came to the conclusion that this level of bitcoin adoption was inevitable, but with all this push from large public institutions, I think we will reach $100,000 bitcoin much sooner than I expected.

The available supply of bitcoins is shrinking every day and, along with growing demand, the price has risen 130% in the last year. This is a runaway train, folks.

States, nations, and corporations will also not stop accumulating btc once they start buying, so I will continue to accumulate as much bitcoin as I can before I reach that magic number of $100k.

I think the floodgates will really open from there.

This article is a Carry. The opinions expressed are entirely those of the author and do not necessarily reflect those of btc Inc or bitcoin Magazine.