As publicly traded companies amass more digital assets, Bittensor (TAO) is emerging as a formidable contender against giants like Bitcoin and Ethereum. Backed by substantial investments and bullish forecasts, TAO is poised to become the new gem in public crypto portfolios.
Recently, two companies listed on Nasdaq, Oblong and Synaptogenix, announced significant investments in Bittensor (TAO). Oblong raised $7.5 million to fund its digital assets and AI strategy based on TAO, while Synaptogenix plans to initially acquire $10 million worth of TAO tokens, more than double its current market capitalization.
These investments demonstrate the growing confidence of publicly traded companies in the potential of Bittensor. With its fixed supply economic model and ability to promote network participation, TAO seems well-positioned to become a sought-after safe haven asset for institutional investors.
According to analysts, Bittensor could soon break into the top 3 of altcoins . Currently, TAO is the leading altcoin in the AI sector, with a market capitalization of over $3.8 billion. Additionally, AI tokens remain one of the most prominent themes in the current crypto market.
Although the price of TAO has already increased by 25% since the beginning of the month, some experts believe it still needs to quintuple to compete with XRP and establish itself among the top three altcoins. However, this forecast may face headwinds, especially with Bitcoin’s recent dominance surge and the absence of an altseason.
Despite these challenges, Bittensor seems well positioned to establish itself as a must-have crypto asset for publicly traded companies. With massive investments and growing investor confidence, TAO is expected to continue gaining recognition and long-term value.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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