Bitcoin reached over 50% dominance and was stable at 49.9% on June 19. The Bitcoin market cap is $519 billion, which is half of the total crypto market cap of $1.1 trillion. The increase in Bitcoin dominance is a result of the search for safe crypto assets and strict crypto asset management in the United States.
Michael Saylor, the co-founder of MicroStrategy and a strong Bitcoin advocate, believes that Bitcoin’s market dominance will reach 80% in the future. He suggested that increasing regulatory pressure from the US Securities and Exchange Commission will cause stablecoins and many other crypto assets to “disappear”. Mr. Saylor also predicted that with Bitcoin’s appeal and the industry’s continued growth, Bitcoin’s market dominance could rise to 80%. He has also made a prediction for Bitcoin’s value to rise above $250,000.
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