Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Both Wood and Novogratz are adamant about the possibility that Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. reach USD $1 million in the next few years, but they point out that certain things still need to happen, such as the arrival of the first ETF an Exchange-traded Fund, an investment fund that users trade on exchanges and trading platforms. based on BTC to the U.S. market.
Reputable Bitcoin investors and enthusiasts, Cathie Wood of ARK Invest investing is when you put money in a financial scheme with the intent of making a gain. y Mike Novogratz de Galaxy Digital, agreed that the leading cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. has a lot of potential for the future, so they estimate that its value could reach USD $1 million by the end of this decade.
Wood’s and Novogratz’s statements came during the event. Crypto Bahamas The two enthusiasts presented their perspectives on the current state of the Bitcoin ecosystem, while showing their optimism about what the future holds for the leading digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency.
Bitcoin can reach USD $1 million
On Bitcoin reaching such an ambitious value, both Wood and Novogratz backed up this belief that investors are increasingly aware of the need to design new investment strategies opening up space for cryptocurrencies, especially in the US where pressure is increasingly felt on the regulatory space.
For Wood it is very clear that by 2030 Bitcoin could reach USD $1 million, and explained that he maintains this projection based on the premise that BTC will displace gold in the main markets, even attracting 50% of the capitalization of the precious metal. He also added that the leading cryptocurrency could also impact the remittance market an area or arena, online or offline, in which commercial dealings are conducted. very favorably, and does not rule out that many more countries will follow the example of El Salvador in terms of its adoption, as well as companies go hand in hand with Tesla’s plans and invest in the digital currency.
For his part, Novogratz supported Wood’s thesis but based it on much more negative aspects, such as the current economic debacle that is being felt both in the U.S. and in many other countries. He noted:
“There’s almost no way we’re going to get out of this debt trap without more inflation… I’m a believer in the USD $500,000 target in the medium term, but it may go to USD $1 million at some point… But in the short a trading technique in which a trader borrows an asset in order to sell it, with the expectation that the price will continue to decline. In the event that the price does decline, the short seller will then buy the asset at this lower price in order to return it to the lender of the asset, making the difference in profit. term I don’t want that to happen.”
Pressure for a ETF Bitcoin
Another of the aspects discussed was the possibility of a ETF Bitcoin in U.S. territory, for which many investors are already demanding and for which there is a lot of pressure on the U.S. Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC) The company has closed the door to this product on several occasions, citing concerns about volatility a statistical measure of dispersion of returns, measured by using the standard deviation or variance between returns from that same security or market index. and possible manipulation of the market.
On April 1st, the SEC officially rejected the proposal of ARK Invest to launch its first ETF Bitcoin Wood plans to reapply and persist until the agency gives in:
“We will reapply… I find it fascinating that they approved Bitcoin futures, and not the underlying. It just doesn’t make sense to me, especially considering the fees associated with that type of ETF.”
On this issue, Novogratz assured that eventually there will have to come a ETF Bitcoin to U.S. territory, so the final question would be “ when this event will take place”. :
“I think we’ll have a Bitcoin ETF this year or sometime next year… (SEC Chairman) Gensler will allow one because he has to.”
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- SEC Officially Approves Bitcoin Futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. ETF Application Filed by NYSE Arca and Teucrium
Version by Angel Di Matteo / DiarioBitcoin
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