The speech by Donald Trump, who was the former president of the U.S. and the re-nominated person in this election, had a speech about Bitcoin and crypto adoption in the next phases of our lives.
He mentioned a lot of critical points about the need to be pegged to hard assets such as Gold and Bitcoin as well as the risk of debt / credit based fiat money system. Though the markets were expecting a speech full of hopium, his words were way more promising than a single green candle.
What he mentioned was the highest tier that we, crypto investors, want to see Bitcoin and other top altcoins in. The journey of crypto started with retail purchases and an endeavor to find a use case. In 2017, we used to dream of paying for our Starbucks coffee with Bitcoin!
Indirect Era & Spot ETFs
In the second phase, we welcomed institutional investors. The early stages of involvement of institutions were primitive and indirect. Companies, such as Micro Strategy, kept announcing that they were buying Bitcoin and they bought Bitcoin as people gave money our bought their shares on the market.
Then, the primitive era had ended with the launch of spot Bitcoin ETFs in January 2024. This was a dream for veteran crypto enthusiasts and it came true! Now, anyone with some financial literacy can easily put their money in exchange-traded funds to invest in Bitcoin and Ethereum, the market's leading duo!
Now, it is time to watch how governments diversify their strategic investments with Bitcoin, Ethereum and other top altcoins if they can also achieve mass adoption with spot ETFs. El Salvador's consistent support and investment in Bitcoin brought millions of dollars in profit in return. In March, $406M profit in Bitcoin was in the cold wallet of the country.
The speech by Trump was almost perfect for the future of Bitcoin. He directly indicated that Bitcoin would be a globally recognized hard asset that central banks can hold in their strategic reserves.
For those who have worries about the current fiat money system and the risks of its evolution, the overall message was quite promising. Keep in mind that whether Trump is elected or not, the nominees all around the world will follow the same strategy to get the votes of an enlarging group of people.
Even 1 single Bitcoin purchase by central banks means a lot for the entire ecosystem!
What do you think about the transition from retail to governmental investors of Bitcoin?
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Posted Using InLeo Alpha