#2024WithBinance

BlackRock CEO Larry Fink, once a bitcoin skeptic, now calls it "digital gold." Other major firms such as Franklin Templeton have also launched ETFs for bitcoin and ether.

Quoted by CNBC, Franklin Templeton CEO Jenny Johnson said in May that the current increase in bitcoin prices was due to "the first wave of early adopters." She also predicted that the next wave would come from "much larger institutions" who would buy crypto funds.

On Wednesday (8/18/2024) Singapore time, bitcoin was trading near USD 60,440 or around IDR 923 million. Although Teng declined to provide a specific price prediction, he noted that cryptocurrency prices tend to "warm up" about 160 days after bitcoin experiences a technical event known as a "halving." The last event occurred in April.

According to Teng, the crypto market is currently "nine days away from that 160-day deadline."