IITMIND: EdTech, Finance and Crypto currencies



The recent Bitcoin rally has led to speculation that the price could rise very higher even further, after getting approval for spot ETFs. The arrival of ETFs, especially from reputable companies such as BlackRock and Fidelity, could boost institutional investor confidence and lead to a surge in the Bitcoin price.

Many of the largest financial institutions in the US are currently actively working to provide access to BTC and more. As per the speculations, there are more than $27 trillion in client assets waiting on the sidelines. BlackRock, the world’s largest asset manager has filed a Bitcoin ETF application. Fidelity Investments has also filed for a Bitcoin ETF. Bitcoin ETF applications from Invest, WisdomTree and even from Top banks in Germany. Following the recent development, HSBC one of the largest banks in Hong Kong got approval for BTC trading in Hong Kong via their mobile application.

As of now, Gold Market is worth around $12T, If Bitcoin just gains just 10% of gold’s market share (around $1.2 trillion), this would be a doubling of BTC’s current market capitalization and, to put it simply, a doubling of Bitcoin’s current price. One factor that also needs to be taken into account when determining the price is the supply side. BlackRock and Fidelity would only have to move 0.3% of their managed capital into Bitcoin to buy all existing BTC on the exchanges at the current price.

At the time of writing this article, BTC is trading around $30,900 with over a 15% jump in its price over a week and has a market capitalization of $600 Billion.

>> Disclaimer Risk warning:- Cryptocurrency Investment is subject to high market risk. The information on our website is for educational purposes only. Please do your own research before investing anywhere, we will not be responsible for your investment losses.

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