Bitcoin ETFs’ recent success, which have garnered $12 billion in just two months since approval, highlights the rapid growth and acceptance of cryptocurrencies within mainstream finance., CIO of Bitwise Asset Management, expressed surprise at the scale of this success. He noted,
“I think there’s a second acceleration coming that may even dwarf this first one. So, it’s a good time in ETF land.” According to the exec, over the next year or so, this could lead to more people using cryptocurrencies and pushingBitcoin’s role is increasingly recognized as a diversification asset offering potential risk-adjusted returns. Within the financial realm, opinions on cryptocurrency vary widely, ranging from die-hard enthusiasts to cautious skeptics. However, such opinions are increasingly growing more positive.
However, proponents propose shifting some gold investments into Bitcoin, highlighting its ability to improve returns without much downside risk.“If you just take a small portion of that maybe 50% of your 3% gold allocation or 50% of your 1% gold allocation and you shift that over into Bitcoin the impact it has on the potential for returns without really impacting the downside is really hard to ignore.”, Bitcoin could surpass gold’s market cap in the near future.
Hence, with ETFs reflecting investor sentiment, sustained demand could stabilize Bitcoin’s price, particularly with the halving coming up.
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