The cryptocurrency industry is experiencing a surge in bullish sentiment as the inauguration of the new US president approaches. The spot Bitcoin ETF broke records in the ETF market, further boosting optimism. More institutional investors and nation-states are expected to follow MicroStrategy and El Salvador in adopting Bitcoin. Trump's recent indication of support for the crypto industry has spurred more states to work on legislation for a strategic Bitcoin reserve. At least 13 states are reportedly exploring this option. Franklin Templeton and Bitwise's Head of Research predict that more countries will add Bitcoin to their strategic reserves in the coming years, with the United States leading as a crypto hub. This mainstream adoption by nation-states will increase the supply vs demand shock for Bitcoin. Despite ongoing price consolidation, the supply of Bitcoin on exchanges has decreased significantly. The United States is expected to purchase around 1 million coins in the next five years, which could potentially drive the price of Bitcoin above $1 million per unit.



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