Bitcoin - The saga continues

It’s done, the worm is in the apple. All American and Navarre investment funds will be able to invest in Bitcoin.

History is in the Making

As anticipated, all ETFs have been approved simultaneously. The money will start to flow in when the American markets open this Thursday, January 11th.

This date is not a coincidence. Exactly 15 years ago to the day, Hal Finney posted this iconic message on Twitter:

11/01 La boucle est bouclée https://t.co/lnY3R2ZWAh

— Nicolas Teterel #FixTheFilters (@NTeterel) January 10, 2024

History is in motion and nothing can stop it now, if there were any doubters left. A new saga is announced for Satoshi Nakamoto’s great work.

While euphoria is in order, let’s not forget what Bitcoin is or where it comes from.

Embraced by and for the masses, this technological breakthrough forged in cyberspace culminates in perfect scarcity for the first time.

Decentralized across the globe, it is an eruption of uncensorable encrypted energy, diffracting to the four corners of a world in geopolitical turmoil and inflationary pressures.

After showing deep skepticism, the largest investment funds have finally come to realize this monetary singularity. But it’s not them we should be thanking.

Congratulations to those who have safeguarded the code. Those who have kept the flame alive with memes, papers, and podcasts. Those who have mined. Those who resisted the siren calls of shitcoinery. Those who desire a fairer world.

"This really is a working class phenomenon that trickled up." – @NatBrunell on #Bitcoin pic.twitter.com/IEjrU0M2MO

— Michael Saylor⚡️ (@saylor) January 10, 2024

Forever Laura

Bitcoiners fight for freedom, but let’s not play the hypocrite. NGU… The arrival of ETFs symbolizes the reward for those who have held firm through thick and thin.

The bank Standard Chartered believes that 50 to 100 billion dollars will be invested into Bitcoin ETFs this year:

“If the capital inflows materialize as we project, we believe that Bitcoin could reach 100,000 dollars by the end of 2024 and 200,000 dollars by the end of 2025.”

The CEO of mining company Marathon also expects a “new all-time high in 2024”. Fred Thiel also anticipates that the Fed will ease its monetary policy by the end of next year, which should enable Bitcoin to continue its rise in 2025.

Fundstrat’s CEO Tom Lee has stated that “Bitcoin could reach 150,000 dollars within the next 12 months and 500,000 dollars within 5 years”:

"Bitcoin could hit $150,000 in the next 12 months and half a million in 5 years"

– Fundstrat's Tom Lee pic.twitter.com/kK1LmS9Uyq

— Digital Asset Summit 2024 (@blockworksDAS) January 10, 2024

It seems that the days when we could accumulate sats at rock-bottom prices are over. Perhaps we’ll soon regret that Gary Gensler didn’t prolong the enjoyment further.

The chairman of the SEC, in fact, showed a slight bitterness by clearly signaling that it was not him, but the judiciary that sealed the fate of ETFs when it decided in favor of Grayscale at the end of last year.

By the way, Gary Gensler also made it clear that the approval of the Bitcoin ETF is by “no means a sign that the SEC intends to approve ETFs for other digital assets that are considered securities.” So no Ethereum ETF…

“There is no second best!” – M. Saylor