Industry Expert: The Bitcoin Winter Is Over, Institutional and National Adoption Are the Next Major Growth Engines

Recently, Strategy Executive Chairman Michael Saylor stated that when Bitcoin reaches $78,000, the market’s toughest phase has passed, and the current cryptocurrency “winter” has officially ended. However, some analysts hold a more conservative view on this.

Analyst Mati Greenspan agrees with Saylor’s assessment that the bottom has formed, saying that Bitcoin could see a new round of upside. But he also believes this round of Bitcoin pullback is not a true “winter”—it’s a normal retracement within a larger bull-market cycle.

Specifically, the crypto industry has experienced three distinct adoption cycles: the early adopters in 2013, the mass retail retail awakening in 2017, and the institutional adoption period in 2021.

He also believes that the next core driver of crypto adoption at the national level will be the primary driver of the fourth adoption cycle. Especially after Trump begins his second term, the shift in U.S. crypto policy will further accelerate this trend.

He predicts that central banks around the world may start allocating Bitcoin to their balance sheets the way they allocate gold, and this trend is already quietly underway.

At present, the U.S. government holds about 300,000 BTC; El Salvador’s daily purchase plan is 1 BTC, with a target treasury reserve of 7,500 BTC; while China and the UK hold approximately 190,000 and 61,000 BTC, respectively.

Not only that, states such as Wisconsin and New Jersey have also introduced Bitcoin exposure into their public pension allocations.

However, market views are not unanimous. Analyst Jason Fernandes even bluntly said that even if the Bitcoin winter has ended, the altcoin winter will still be long.

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