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
240
2 min
0
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.
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.
Useful material?
Market
Due to supply shortages, the asset’s pre-market exchange rate was climbing above $1000
Dec 16, 2024
Incidents
Reports about the hacking of the exchange with calls to withdraw assets began to spread on December 13
Dec 13, 2024
Crypto regulations
Stablecoins from issuer Circle will not be affected by the changes
Dec 12, 2024
Crypto regulations
The platform will launch after meeting the preconditions of the local exchange authority
Dec 9, 2024
Market
The $1,1 billion figure was reached after the bitcoin correction
Dec 6, 2024
Crypto regulations
By early January, all open positions and loans of local users will be closed and repaid automatically
Dec 5, 2024