Approval of the first bitcoin ETFs is expected to trigger big demand from institutional investors such as superannuation funds.
Cryptocurrency advocates are tipping the price of bitcoin to reach $US100,000 within the next five years if approval of the first exchange-traded funds for digital assets opens the floodgates to institutional investors.
Not to be outdone, Richard Galvin, chief executive and co-founder of Digital Asset Capital Management, said he could see bitcoin reaching $US101,000 in the same time period.Mr Galvin added that DACM had been fielding interest from institutional and sophisticated investors, including family offices, looking for exposure to alternative assets.
“I’m a strong believer that institutional adoption and retail adoption will happen a lot quicker when an ETF comes and I think that will turbocharge the whole space.”also noted the big names backing bitcoin ETFs, which would hold actual cryptocurrencies for investors, as a sign of institutional interest.“That shifted the entire taboo of talking about bitcoin in professional finance.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AI healthcare company Enlitic eyes $160m from cleaning up radiologists’ dataAn ASX hopeful is chasing $US100 million ($159 million) in sales from licensing its artificial intelligence technology to healthcare clients.
Read more »
‘So proud’: Jacinta Price’s parents praise Senator’s campaigning effortsJacinta Nampijinpa Price’s parents have expressed great pride in their daughter for campaigning against the Voice to Parliament following the referendum’s defeat. Sky News Australia called the failure of the Voice to Parliament referendum after projecting the majority of states to vote No.
Read more »
Australians said ‘No’ to division: Jacinta Price reacts to Voice defeatShadow Minister for Indigenous Australians Jacinta Nampijinpa Price says the Australian people have said 'No' to division following the Voice to Parliament’s defeat. The Voice to Parliament is projected for defeat in all states across the country.
Read more »
Jacinta Nampijinpa Price questions AEC ‘conduct’ after largely Indigenous communities vote yesShadow Indigenous Australians minister says ‘there’s a lot of manipulation’ in remote communities
Read more »
Shadow Indigenous Minister Jacinta Nampijinpa Price questions Voice referendum remote polling practices7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »