From increasing demand to shortage of supply… Bitcoin right at the right time
Super-large IB Morgan Stanley also promotes the launch of a bitcoin fund
Bitcoin ETF acceptance expectations ↑
Due to the global semiconductor supply shortage, the amount of mining has also decreased… Demand↑·Supply↓
[이미지출처=연합뉴스]
[아시아경제 이민우 기자] The demand for bitcoin is increasing due to the imminent anticipation of the emergence of investment products such as the ETF, while bitcoin mining is slowing down due to the shortage of semiconductor supply around the world. It is an analysis that demand is increasing and supply is insufficient, which is a huge boon for Bitcoin.
On the 21st, SK Securities analyzed the background of the recent rise in the price of bitcoin, a representative virtual currency (cryptocurrency). According to Upbit, a domestic virtual currency exchange, the bitcoin price recorded 70.2 million won on the 18th. On the 14th, it reached an all-time high of 71.4 million won and then fell to 60 million won, but it surpassed 70 million won again in four days. The news that Morgan Stanley, an extremely large investment bank (IB) with assets under management of $4 trillion (about 4520 trillion won), is the first to invest in a Bitcoin fund on Wall Street was a good news.
Earlier, the US Economic Media CNBC said through an anonymous source, “Morgan Stanley is the first of a large bank to invest in a bitcoin fund to its clients,” and said, “We will launch three funds that can own Bitcoin.” Invested at least $25,000 in Galaxy Digital’s’Galaxy Bitcoin Fund’ and’Galaxy Institutional Bitcoin Fund’, founded by Mike Novograz, and’FS Investments’ and’FS Investments’ and Bitcoin-related company NYDIG. It is reported that it will invest 5 million dollars in’NYDIG Select Fund’. Han Dae-hoon, a researcher at SK Securities, analyzed, “It is positive news just that the world’s leading financial company has provided customers with investment plans for Bitcoin.”
Expectations for the launch of the Bitcoin ETF also increased. The U.S. Securities and Exchange Commission (SEC) is undergoing a 45-day review of the ETF’BanEck Bitcoin Trust’, which the US asset management company Van Eck applied for. The outline is expected to be revealed by the end of next month. One researcher said, “There is a growing demand for funds including ETFs, mainly from financial institutions.” “He explained. In fact, the price of bitcoin soared when $600 was paid in support for Corona 19 response in December of last year.
The supply shortage is also a good thing. As semiconductor supply shortages appear around the world, bitcoin mining also has an emergency. For Bitcoin, semiconductor chips such as enormous power and high-performance graphics cards are required. As the recent shortage of semiconductors hit the world, TSMC, the world’s No. 1 foundry company, decided to first reduce the production of semiconductors for mining. One researcher said, “Bitcoin price is determined by limited supply (21 million units) and demand.” There is no choice but to do it,” he explained.
Reporter Lee Min-woo [email protected]