Opinion: Markets bet on Bitcoin as a more stable and politically favorable asset, supportive regulation is crucial
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Odaily Planet Daily Report: Galaxy Digital's research chief Alex Thorn wrote in X that on Monday, Bitcoin rose to $8,343, its highest single-day gain (in US dollars). Presto Research's research chief Peter Chung said: "Any fund manager who doesn't take the time to analyze the Bitcoin opportunity may fail to fulfill their fiduciary duty to clients. Anyone familiar with modern portfolio theory must understand the benefits of a small Bitcoin allocation. Given the positive regulatory momentum and the availability of spot ETFs, there is really no excuse." Justin d'Anethan, Head of Business Development for Asia Pacific at cryptocurrency market maker Keyrock, said that reaching this price milestone (Bitcoin rising to $90,000 on some trading platforms) is "a signal that the market is increasingly enthusiastic about Bitcoin as a more stable, even politically favored asset. Supportive regulation is crucial here, and the market's enthusiasm stems from the idea that lower taxes, less government intervention, and dovish central bank policies will benefit Bitcoin and its operators." In addition, several industry experts said that Bitcoin will reach $100,000 in the next 1-3 months. (The Block)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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