The analysts forecast that Bitcoin halving next year will be a huge bullish trigger amid increased demand from institutional investors.
Galaxy Digital CEO Novogratz argued that the recent Bitcoin ETF frenzy is an indicator that mass adoption is around the corner but the SEC remains a huge stumbling block.
If the price of Bitcoin rises, MicroStrategy will benefit in various ways. Conversely, if the price of Bitcoin falls drastically or even crashes, MicroStrategy may face challenges in recovering from the debt.
The serial entrepreneur thinks the regulations by enforcement from the US SEC have significantly dragged the Bitcoin market from rallying further.
BlackRock is set to become the first asset manager to launch a fund that tracks the price of Bitcoin.
According to Grayscale, the only way to eliminate SEC’s unequal treatment of BTC ETPs is “to allow proposed spot bitcoin ETPs like Grayscale’s to begin trading”.
The Bank of England’s governor reiterated that fiat currencies will not be replaced by crypto like Bitcoin since they are extremely speculative assets.
Although Bitcoin is holding strong in the $30K region, predictions are bullish, with one putting the coin at $50k this year.
Banking giant Standard Chartered expects the Bitcoin bull run to continue further with the BTC price to rally to $50,000 by the end of the year.
According to the analyst, Bitcoin has a better chance of being valuable and stable as it has a fixed and constant supply compared to other forms of money.
According to former banker and BitMex co-founder Arthur Hayes, Bitcoin has a very high chance of becoming the ultimate currency of artificial intelligence.
Bernstein believes that going ahead only big players would be able to survive as mining costs continue to rise.
The report acknowledges that physically-backed Bitcoin ETFs offer certain advantages over futures-based funds.
Lightning Labs said that the new tools will make Bitcoin transactions faster, cheaper, and more accessible to AI developers.
Bitfinex said it will convert the recovered Bitcoins to US dollars and credit them to its users’ accounts.