Bitcoin jumps after Javier Milei's victory in Argentina. 🚀🚀🚀

Bitcoin (BTC) was stable for most of the weekend, but began to react on Sunday night (19) after liberal economist Javier Milei won the presidential race in Argentina.

Milei, elected with almost 56% of the votes, is a supporter of the largest cryptocurrency on the market. He has already said that Bitcoin represents the “return of money to its original creator, the private sector”, in addition to being “a natural reaction to the central bank coup”.

Self-described “anarcho-capitalist”, Milei defends the closure of the Central Bank of Argentina. In a recent interview with the newspaper El País, he said that it is necessary to take the money printing machine out of the hands of politicians.
“Milei’s ambitious vision of a dollarized, market-friendly, small-state Argentina will finally be put to the test,” said Adriana Dupita, Bloomberg Latin America economist.

At around 8am this Monday (20), BTC operates up 2%, at US$37,316. In 30 days, the digital asset rose 24%, driven mainly by optimism surrounding the launch of an ETF (index fund) in the USA with direct exposure to cryptocurrency.

Altcoins (any crypto other than BTC) are also trading in the positive camp this morning. Ethereum (ETH) rises 4% to $2,041 and XRP (XRP) advances 2.70% to $0.62.

The start has been given! Best time for accumulation and BTC ETH and Altcoins.

We are witnessing a significant shift in wealth management, with a generational transfer of wealth to more cryptocurrency-friendly demographics. This change, combined with the ease of access provided by ETFs, could dramatically increase Bitcoin adoption.

The market awaits a significant transformation as the United States Securities and Exchange Commission (SEC) moves closer to the possible approval of these ETFs.

The involvement of major financial players like BlackRock and Invesco highlights the growing mainstream interest in Bitcoin. However, the path to approval has been complicated by regulatory challenges and the threat of a government shutdown impacting the SEC's operations.

Analysts often compare Bitcoin to gold, especially in the context of ETFs. While the first gold ETF in the US facilitated broad access to investments in the precious metal, Bitcoin's unique characteristics, such as its inelastic supply and network-driven utility, set it apart.

Both of these aspects suggest that, from a systematic risk perspective, Bitcoin can play a unique role in investment portfolios.

The approval and launch of these ETFs could introduce billions of dollars into the cryptocurrency market, fundamentally changing how cryptocurrencies are bought, sold and exchanged.

Bitcoin spot ETFs represent more than just an investment product; they are a catalyst for broader adoption and innovation in the financial sector.

The world is on the cusp of a revolutionary moment for Bitcoin.

Cryptocurrency investment firm GSR has released an analysis predicting the imminent impact of much-anticipated Bitcoin spot ETFs in the United States. The report, written by Brian Rudick and Matt Kunke, senior strategist and research analyst at GSR, respectively, suggests a revolutionary moment for Bitcoin and digital assets.

According to GSR, the launch of a Bitcoin spot ETF in the US could be a game changer. They highlighted the transformative potential of this financial vehicle, citing the superiority of an ETF product and its similar impact to that seen in the gold market.

Impact of a Bitcoin ETF.

The report emphasizes the strategic importance of this market, referring to SIFMA, which estimates that the US represents 40% of total global fixed income assets and market capitalization.

Furthermore, it highlights the dominance of ETFs in the US compared to other jurisdictions, highlighting the potential for a significantly larger Bitcoin ETF market.
GSR experts also emphasize the regulatory legitimacy that a Bitcoin ETF would bring, eliminating uncertainty and offering solid protection to investors. This could drive wider adoption and the migration of a percentage of assets under management to a Bitcoin ETF, as indicated by data from the Digital Assets Council of Financial Professionals.

The comparison with the gold ETF's impact on the market serves as a projection of the potential impact that a Bitcoin ETF could have.
While the analogy is not perfect, GSR points to the transformation of the gold market following the introduction of an ETF, suggesting that Bitcoin could follow a similar or even steeper path.

Expectations surrounding the possible approval of these assets in the next two months have kept the price of Bitcoin at the highest levels, between US$36.000 and $38,000, not seen in 18 months.