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- #Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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Billionaire Tim Draper predicts Bitcoin will rise to $250,000 this year.
Gate News bot news, billionaire and Silicon Valley investor Tim Draper reiterated that the price of Bitcoin will reach $250,000 by 2025. Draper has consistently maintained his previous price prediction of $250,000 for Bitcoin and listed several factors that could drive the price higher.
He stated that Bitcoin could "infinitely" surpass the US dollar, and he made this prediction last month. Draper added that in 10 years, the US dollar will no longer exist because Bitcoin will take its place.
Draper first predicted this level in 2018, with an initial target of 2022. However, due to the brutal bear market and multiple black swan events in the cryptocurrency market in 2022, this timeline was not realized.
He stated that as President Trump continues to promote trade agreements, the market generally holds an optimistic attitude. Recently, Trump Media & Technology Group submitted a Bitcoin spot ETF application, which has become an important catalyst.
Another factor is the upcoming cryptocurrency regulatory framework in the United States. On May 19, the U.S. Senate passed the GENIUS Act with a bipartisan vote of 66 in favor and 32 against, marking a key step toward regulating stablecoins.
On the other hand, Republican lawmakers are advancing the bipartisan "Digital Asset Market Clarification Act of 2025." This comprehensive bill aims to establish clear rules for the cryptocurrency market in the United States.
Draper pointed out that Web3 applications built on Bitcoin are another factor driving up the price of Bitcoin. "In addition, banks are also adding Bitcoin to their products. Even JPMorgan, which has long held an opposing stance, plans to launch this service soon."
Source: Cryptonews