Investor Chamath Palihapitiya calls 2024 the most important year for BTC

According to him, this will be facilitated by the approval of spot ETFs

08.01.2024 - 12:53

252

2 min

What’s new? Venture capitalist, billionaire investor, and bitcoin supporter Chamath Palihapitiya believes 2024 could be the most important year for the first cryptocurrency. In a new episode of the All-In podcast, he noted that the approval of a large number of asset-based spot exchange-traded funds (ETFs) is likely to be a game changer for BTC.

All-In podcast

What else is known? According to Palihapitiya, ETFs will allow a wider demographic to access BTC, which could eventually lead to mass adoption of the asset.

“We are probably days away from a series of ETFs being approved, and so this is the moment for Bitcoin to use that old term ‘cross the chasm’ and really see mainstream adoption where our parents and grandparents understand what it is,” the investor said.

Palihapitiya added that bitcoin would then become part of the traditional financial lexicon by the end of 2024. He called it his “most anticipated trend of the year.”

Grayscale CEO: launching spot BTC ETFs will give bitcoin access to the $30 trillion market

Michael Sonnenschein also spoke about a meeting with SEC officials regarding the conversion of the GBTC bitcoin trust

According to media reports, the US securities regulator SEC may allow spot BTC ETFs to enter the market as early as the first half of January. Investment companies BlackRock, Valkyrie, Fidelity, VanEck, Bitwise, Grayscale, ARK Invest, and others are waiting for approval to launch such products.

Author: