Bitcoin, which once rose to the bottom of $60,000 and surpassed the price of 1kg of gold, recently fell below $50,000, but the CEO of Cashwood ArcInvest, known in Korea as the’money tree sister’, said that bitcoin will replace bonds. He expressed a positive outlook, saying that it can. This contrasts with Tesla’s CEO Elon Musk, who is evaluated as the leading player in raising the price of bitcoin by more than $50,000, saying “It’s expensive.”
Microsoft founder Bill Gates said on the 25 th It is the appearance of warming up again. The news of the listing on the NASDAQ of’Coinbase’, the largest cryptocurrency exchange in the US, is also recognized as a good news for bitcoin investors.
According to Marketwatch on the 28th, CEO Wood said, “Bitcoin can replace bonds” at a conference on cryptocurrency held on the 25th. “Bitcoin should be viewed as a new asset class that can be used as a reserve currency in the future.” said.
Wood’s positivity continues even in recent years as bitcoin prices fluctuate. Wood also appeared on Bloomberg Radio on the 22nd, saying, “It is very positive about Bitcoin,” and “I am very happy to see a healthy (price) adjustment.”
ETFs are also breathing into the staggering bitcoin. The world’s first Bitcoin ETF (BTCC), which was listed on the Toronto Stock Exchange on the 18th, recently received a large amount of $590 million in a week. BTCC is an ETF that follows the bitcoin price, and in the United States, the world’s largest ETF market, the ETF linked to the bitcoin price has not yet passed the Securities and Exchange Commission (SEC) review.
The US Coinbase’s entry into the NASDAQ listing process is also interpreted as a positive sign for Bitcoin investors. On the 25th, the SEC first unveiled the stock report (S-1) submitted by Coinbase. The SEC’s disclosure of S-1 means that Coinbase will pass the listing screening and go through the official listing process soon.
The expectations for bitcoin investment by corporate and institutional investors continue. Following the announcement that fintech company Square and information technology (IT) company MicroStrategy recently purchased additional bitcoin, JPMorgan analyst Joyce Chang said in a report on the 24th, “Investors will invest about 1% of their portfolio in bitcoin. I can.” “If many institutional investors accept bitcoin, the bitcoin market cap will increase in no time,” said Wood CEO.
Warren Buffett’s best friend and longtime partner Charlie Munger, vice chairman of Berkshire Hathaway, recently appeared on CNBC and fueled the bitcoin price bubble, saying, “I will never buy bitcoin.”
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