BTC million-dollar prophecy resurfaces: Could corporate bond boom spawn a new "digital gold" bubble?

The price of Bitcoin has stabilized at the $118,000 mark after a brief pullback. Beneath this seemingly calm surface, however, there are undercurrents at play. Institutional investors are systematically building positions using sophisticated algorithmic strategies, and this "drip-feeding accumulation" is reshaping the entire market's supply and demand dynamics.

The latest analysis from Bitcoin financial service provider Swan points out that this current bull market shows characteristics different from previous ones. Corporate finance departments and spot ETFs are continuously buying in with remarkable discipline, while retail investors have not yet entered the market on a large scale. This institution-led "silent bull market" lays the groundwork for future trends.

Focusing on a broader observation of financial cycles, analyst American HODL pointed out that the flood of funds in the corporate bond market may repeat the script of the 1999 internet bubble. He also stated that as more publicly traded companies incorporate Bitcoin into their balance sheets, this "digital gold" could break a million dollars within 3-4 years.

The basis for this prediction is that BTC, due to its unique halving mechanism, has seen its daily new output drop to about 450 BTC (i.e., 3.125 BTC per block, approximately 144 blocks per day), which is a historical low. The average daily net inflow of the U.S. spot ETF, at ( nearly 3000 BTC), is over 6 times its daily production. This structural shortage is particularly sensitive in the context of the Federal Reserve about to enter a rate-cutting cycle.

At the same time, institutional capital is building complex acquisition structures, including special purpose vehicles (SPVs) and over-the-counter bulk trading channels. This proactive layout reflects that institutions are preparing for a potential supply and demand imbalance in the Bitcoin market.

The trajectory of market evolution seems to corroborate the four-stage roadmap proposed by the Swan research team: from algorithm-driven covert accumulation, to secret stockpiling by sovereign funds, then to competitive bidding by financial institutions, and finally culminating in an explosive rise driven by narrative contagion.

However, historical experience also reminds us that whenever the market shouts "this time it's different," it is often the most vulnerable moment for the market. Whether Bitcoin can achieve the million-dollar target requires not only the drive of capital but also innovation in its underlying value and breakthroughs in the application of technology.

#比特币 # 100 million USD #institutional investment