Bitcoin Surges Past Previous High, Boosted by ETF Approval and Investor Interest
In Brief
Bitcoin (BTC) has once again broken its previous high, thereby attracting the attention of investors worldwide. This increase is due to a number of key factors, including the approval of Bitcoin ETFs in January. Mike Belshe, CEO and founder of BitGo, explains the background in an interview.
What’s Behind the Rise of Bitcoin?
According to Belshe, the main driver for the recent rise of Bitcoin is the approval of the ETFs in January. This has allowed investors greater access to direct BTC exposure. In addition, he emphasized the attractiveness of Bitcoin’s fixed monetary policy compared to traditional fiat currencies, especially in times of uncertainty in global monetary policy.
Bitcoin as a Store of Value
Belshe also highlighted the growing recognition of Bitcoin’s potential as a store of value. This encourages both private investors and institutional investors to include Bitcoin in their portfolios.
Role Distribution: Private Investors vs Institutional Investors
When asked about the current market dynamics, Belshe also discussed the role of private investors compared to institutional investors in the recent price increase. He noted that the increase was primarily driven by private investors and added that the institutional money is yet to come.
Our Assessment
With the continuous breaking of barriers and increasing attention from mainstream media, Belshe’s insights underline the transformative potential of these digital assets. With the increasing acceptance of BTC by traditional financial institutions, regulatory clarity, and increased investor interest, the rise of Bitcoin marks a significant financial shift.
Sources
Ishika Kumari, Ann Maria Shibu, Forbes, University of Delhi.
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
|
| Price | $97,475.00 |
| 24h % | 0.64 % |
| 7d % | -3.91 % |
| 30d % | 0.66 % |
| 60d % | 44.33 % |
| 1y % | 122.74 % |
| Market Cap | $1,931,594,074,838.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
Advertising transparency