Bitcoin’s evolution toward a store of value is resonating with Wall Street and Main Street, after it hit an all-time high on a few exchanges this past week.
We mentioned last month that corporations such as MicroStrategy and Square are adding bitcoin to their balance sheets. And PayPal is enabling millions of Americans to buy, hold, and sell bitcoin in their wallets.
The mainstream adoption of bitcoin is showing no signs of slowing. Just this week, Guggenheim Funds, a global investment firm which manages $233 billion, filed an amendment with the Securities and Exchange Commission to allow one of its subsidies to invest in Grayscale Bitcoin Trust (GBTC). GBTC is essentially an ETF that tracks the price action of bitcoin.
The amendment mentions the Fund will be able to invest up to 10% of the $5 billion of assets under management. It’s another incredibly bullish sign that Wall Street is rewriting its investing theses to make sure they include bitcoin.
Expect more stories like this over the coming weeks as more high-profile companies, individuals, and funds embrace bitcoin.
Based On previous cycle we See 30%-20% dump Before a massive Bull Run!!
We mentioned last month that corporations such as MicroStrategy and Square are adding bitcoin to their balance sheets. And PayPal is enabling millions of Americans to buy, hold, and sell bitcoin in their wallets.
The mainstream adoption of bitcoin is showing no signs of slowing. Just this week, Guggenheim Funds, a global investment firm which manages $233 billion, filed an amendment with the Securities and Exchange Commission to allow one of its subsidies to invest in Grayscale Bitcoin Trust (GBTC). GBTC is essentially an ETF that tracks the price action of bitcoin.
The amendment mentions the Fund will be able to invest up to 10% of the $5 billion of assets under management. It’s another incredibly bullish sign that Wall Street is rewriting its investing theses to make sure they include bitcoin.
Expect more stories like this over the coming weeks as more high-profile companies, individuals, and funds embrace bitcoin.
Based On previous cycle we See 30%-20% dump Before a massive Bull Run!!
