In the constantly evolving financial landscape, it is sometimes challenging to keep up with the rapid market fluctuations. To shed light on this topic, two distinguished guests honored us with their presence on the BFM Crypto radio channel, Cyril Sabagh, Managing Director of Melanion Capital, and Valentin Demé, the former CEO of CUBE3.
Lately, Bitcoin has been experiencing significant buzz in the financial markets. Within a span of 24 hours, its value increased by 13%. Over a week, it’s 21%, and the current year has seen it surge by 80%. To put these figures into perspective, Vincent Gaan, an industry expert, points out that since the beginning of the year, Bitcoin has witnessed a staggering growth of 488%, far surpassing other major indices like the NASDAQ.
How does it compare to other assets?
Comparing Bitcoin to gold, traditionally seen as a safe-haven asset, is a common analogy. However, its recent spike suggests that the current momentum around Bitcoin is less about its status as “digital gold” and more about the excitement surrounding ETFs. BlackRock, a financial giant, is no stranger to this view, even if the reality is more nuanced.
Anticipation of a Bitcoin ETF by BlackRock is the talk of the town. Some indications, especially the leak of information about the filing of the name “iShares Bitcoin Trust“, have fueled speculations. While a since-deleted tweet stirred some buzz, it seems that Cyril Sabagh and Valentin Demé agree that its launch is imminent.
The role of the SEC
Regulation is at the heart of the Bitcoin ETF dynamics. The SEC’s stance, especially concerning Spot Bitcoin ETFs, is a hot topic of intense debate, further fueled by comments from its members.
MicroStrategy’s success story, becoming profitable due to its Bitcoin investments, highlights the digital currency’s appeal to businesses. On the flip side, FTX’s resounding failure indicates that the sector is not without risks.
The rise of blockchain technology continues to amaze. PETAL, a young French startup backed by giants like Microsoft and OpenAi, perfectly illustrates the merging of the real and digital worlds through asset tokenization.
In conclusion, the future looks bright with innovations for the decentralized finance and crypto sectors. Valentin Demé even anticipates significant advancements by 2024. We’d like to thank our experts for their invaluable insights and you, our loyal readers, for your trust. Stay tuned for more financial analyses coming soon.
