Nakamoto Holdings Bitcoin (BTC) treasury company CEO David Bailey is ruling out a downturn for the crypto king for a couple of years.
Bailey says there’s “not going to be another Bitcoin bear market for several years” due to heavy demand.
[adinserter block="1"]“Every Sovereign, Bank, Insurer, Corporate, Pension, and more will own Bitcoin. The process has already begun in earnest, yet we haven’t even captured 0.01% of the [total addressable market] TAM.
We’re going so much higher. Dream big.”
According to Bailey, the amount of Bitcoin held by institutional investors is primed to increase.
“Under 1% of institutional investors have exposure to Bitcoin. The average allocation across those that do is less than 1%. Said differently, 99.99% of demand is ahead of us.
There’s not even $1 trillion of bitcoin liquidity available for the climb to $1 million per BTC.”
Bitcoin is trading at $110,129 at time of writing.
Earlier this month, Bailey said that Nakamoto Holdings was planning to purchase Bitcoin worth $1 billion amid the firm’s plans to become a “Bitcoin juggernaut.”
“We have a one-of-a-kind strategy at Nakamoto, once you see it in action you’ll understand why we’ll be one of the top holders of Bitcoin in the world.”
In the middle of this month, Nakamoto Holdings completed a merger with medical marijuana firm KindlyMD. The resulting entity, known as KindlyMD, now holds 5,765 Bitcoin and is the 16th-largest public Bitcoin treasury company, behind household names such as Michael Saylor’s Strategy (formerly MicroStrategy), Tesla and Coinbase.
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