Speaking at a conference in Bangkok on Sunday, Binance CEO Richard Teng predicted that Bitcoin will break the $80,000 level in the future, against the backdrop of growing institutional interest in and investments in cryptocurrency-backed exchange-traded funds. #MarketDownturn
Ting also highlighted the pivotal role of the launch of Bitcoin ETFs on the US stock exchange in attracting institutional investors, indicating that the influx of funds into Bitcoin ETFs has recently begun. However, Ting warned that the path to Bitcoin’s upward trajectory could see extreme volatility, which is good for the dynamics of the cryptocurrency market. It is worth noting that the famous cryptocurrency analyst, George Tong, previously predicted that Bitcoin’s value would reach more than $150,000 in just 6 months #BinanceTurns7 $BNB
Over 20 Companies May Join Bitwise Bitcoin Standard ETF
According to Odaily, HODL15 Capital reports that more than 20 companies have a chance of being included in the Bitwise Bitcoin Standard Corporations ETF, with 30% of these being Bitcoin mining firms. Previously, it was announced that Bitwise has applied to the U.S. Securities and Exchange Commission (SEC) for the Bitcoin Standard Corporations ETF. This fund aims to invest in the stocks of companies that adopt the Bitcoin standard, requiring them to hold at least 1,000 BTC in their reserves.
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