I’ve dedicated my keyboard to over 90 articles in the past six months, zealously advocating for the Bitcoin and cryptocurrency movement. Each word penned serves as a testament to my unwavering belief in the fusion of the commodities sector with WEB3, an alliance poised to birth a new era of prosperity and advancement.
Since 2016, I’ve faced a relentless tide of skepticism and outright dismissal about the meteoric rise of Bitcoin and the incoming deluge of the crypto world. Yet, the clamor from naysayers is beginning to quieten. More intriguingly, the voices that once sought to drown me in a sea of negatives are now softening and beginning to harmonize with my longstanding tune.
While the evolving chorus brings me a sense of vindication, I find my satisfaction tinged with frustration. My industry continues to linger at the edge of the dance floor, its feet stubbornly planted. Despite my open invitation and willingness to guide them through the rhythmic complexities of this digital dance, they still need to be more confident. Yet, I persist, confident that soon, they, too, will feel the irresistible pull of the crypto symphony.
In a groundbreaking revelation, it has been unveiled that there are over one million wallets on the Bitcoin network, each holding at least one whole Bitcoin. This significant milestone indicates at least a million dedicated crypto enthusiasts, purposefully dollar-cost averaging their way into becoming full bitcoiners.
But the sound of progress doesn’t stop there. BlackRock, the colossal investment management corporation, has created a ripple effect by filing for their Exchange Traded Fund (ETF) application, the structure of which is strikingly akin to a Bitcoin spot ETF. This move, set to democratize Bitcoin investing further, was met with a hiccup as the U.S. Securities and Exchange Commission (SEC) requested additional details. However, the power of BlackRock, with 575 victories out of 576 attempts, can’t be understated. It’s more than likely that they will acquire the approval for this groundbreaking ETF.
And like wolves scenting a fresh opportunity, other financial heavyweights followed suit. Fidelity, Valkyrie, and others have stepped forward, demanding their piece of the Bitcoin spot ETF pie. The SEC now finds itself under pressure as the big dogs are banging at the door of the Bitcoin world, hungry to enter this exciting new game.
Once the enfant terrible of the financial world, Bitcoin is now the apple of every investor’s eye. One investor has reported that hits on the BlackRock website for Bitcoin were a staggering 600,000 compared to a mere 3,000 for COVID-19 and monetary policy. This fascination and excitement about Bitcoin are undeniable, although it’s still relatively untested and subject to volatile market swings.
However, the interest in Bitcoin could herald the evolution of this ‘thin’ market into a substantial global one. Once an ETF gets approved, the forecast suggests a torrential inflow of investments, possibly reaching a billion dollars within days. This shift will be reminiscent of the rapid accumulation of assets by the futures-based Bitcoin ETF, possibly even faster.
In another exciting development, a novel crypto exchange has entered, backed by giants like Fidelity, Schwab, and Citadel. These institutions didn’t jump on the crypto bandwagon on a whim; their entry results from meticulous legal and compliance reviews, months of product development, and internal approvals. Wall Street has been quietly building during bear markets and is now ready to dive into the Bitcoin and cryptocurrency industry.
While the industry still faces questions about its scope and the speed of growth, there is a consensus that cryptocurrencies and Bitcoin are here to stay. Even the Federal Reserve chairman, Jerome Powell, has begrudgingly acknowledged the staying power of this thriving industry.
Bitcoin, now boasting a market cap exceeding half a trillion dollars and a market dominance of over 50% for the first time since April 2021, remains the crowned king of the crypto world. Among the industry’s notable believers is Michael Saylor’s MicroStrategy, which has recently purchased an additional 12,333 Bitcoin, raising their total to over 152,333.
Despite the negative sentiment from some quarters, the fact that Bitcoin’s year-to-date return is an astounding 86% is a testament to its resilience and potential. As Wall Street, MicroStrategy, and over a million Bitcoin wallets are signaling, the symphony of Bitcoin is playing an increasingly confident tune. This game is far from over; those who ignore the music may regret their silence.
Just as I have ardently dedicated my keyboard to the Bitcoin and crypto movement over these past months, I will continue to use every keystroke to champion this digital symphony, and to encourage my own industry to join the dance. I believe the softening tones of the once deafening skepticism will evolve into a full-bodied harmony, resonating with my long-sung tune of embracing Bitcoin and the broader crypto world.
The fusion of the commodities sector with WEB3 is not merely a theoretical concept, but a reality slowly coming to life – a reality that holds the promise of unprecedented prosperity and advancement. Though my satisfaction may be tinged with frustration at the reluctance of some to embrace this transformative wave, I am resolute. As the tide of the crypto revolution surges forward, I am confident that those hesitant feet at the edge of the dance floor will soon find their rhythm in this intoxicating digital dance. Until then, I remain steadfast, penning my conviction, my belief, and my vision for a future where crypto symphony plays the unmistakable soundtrack of our world.