Since the start of 2024, Bitcoin (BTC -1.45%) has been on a spectacular bull run. It's up 179% over that time period, and each time it looks like the leading cryptocurrency could be pulling back, it reaches a new all-time high.
With that in mind, is it still worth buying Bitcoin right now? I believe so for one important reason.

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More institutional and corporate investors
For most of Bitcoin's history, retail investors were the only ones buying it. Most of the biggest investors, namely hedge funds and investment banks, wouldn't touch Bitcoin with a 10-foot pole because it was a volatile, unproven asset.
In January 2024, the Securities and Exchange Commission (SEC) approved the first spot Bitcoin ETFs that invest directly in the cryptocurrency. ETF approval has given Bitcoin more legitimacy and brought in money from institutional investors. As of this writing (July 30), total Bitcoin ETF inflows have surpassed $55 billion.
It has also become normal for public companies to buy Bitcoin for their treasuries. Some aim to hold as much Bitcoin as possible, becoming Bitcoin treasury companies. Strategy (MSTR -8.78%), which started buying Bitcoin in 2020, was the first notable company to do this. There are now over 100 companies that hold Bitcoin.
Although Bitcoin is the oldest cryptocurrency, it has only been around since 2009, and it has just started getting interest from businesses and institutional investors in the last few years. Inflows from these deep-pocketed investors could be a continued growth catalyst for Bitcoin over the rest of the decade -- or longer.
Don't bet against Bitcoin
Even after Bitcoin's recent success, many analysts think it could get much more valuable. British bank Standard Chartered has projected that it will reach $500,000 by 2028. Bitcoin is volatile, and it's not a good idea to invest in it too heavily. But it's the most successful cryptocurrency, and it has delivered incredible returns, so you may want to regularly put a small amount of your money into it.