Hello Everyone,
As Bitcoin reaches and surpasses its all-time highs, many are wondering if this upward momentum is here to stay. At WAGMI, we firmly believe that Bitcoin's price is fundamentally driven by supply and demand dynamics. The substantial demand from Bitcoin ETFs has already significantly impacted its price, but we see this as just the beginning. With increasing interest from institutions, financial advisors, and even central banks, we're poised at the brink of an even larger wave of adoption and investment.
Bitcoin Price: $67,752.32 (-0.1% past 7 days)
Ethereum Price: $3,672.85 (-6.03% past 7 days)
Solana Price: $179.93 (+23.58% past 7 days)
*as of 12:15pm EST 3/15/24
Bitcoin Funds and U.S. Financial Advisers: An Untapped Opportunity
The cautious yet growing interest among U.S. financial advisers in Bitcoin funds, who oversee more than $60 trillion in assets, presents a significant untapped market.
Cautious Interest from Advisers: Many U.S. financial advisers are gradually showing interest in Bitcoin funds, including the recently introduced spot ETFs. Their cautious stance, rooted in concerns over market volatility and regulatory clarity, highlights a considerable untapped market potential.
Future Surge in Demand: The slow adoption rate by U.S. financial advisers suggests a likely future increase in demand. As the market environment stabilizes and regulatory frameworks become clearer, Bitcoin funds are expected to gain substantial traction.
Path to Mainstream Acceptance: The current reluctance of U.S. financial advisers can be viewed as a latent opportunity. With market maturation and regulatory developments, Bitcoin funds could become a mainstream investment choice, attracting a new wave of investors through financial advisers.
Significance to WAGMI:
This evolving interest among U.S. financial advisers is in line with WAGMI's strategic vision for digital assets. By recognizing the significant untapped market within the U.S. financial advisory sector, WAGMI is well-positioned to benefit from the anticipated increase in demand and investment in Bitcoin funds. This approach ensures that WAGMI stays ahead in a rapidly developing cryptocurrency market.
JPMorgan CEO Softens Stance on Bitcoin
Jamie Dimon, CEO of JPMorgan and a previously outspoken critic of Bitcoin, has shown a notable shift by acknowledging people's freedom to invest in the cryptocurrency.
Shifting Attitudes in Finance: Dimon's change of perspective, particularly from a prominent banking leader, indicates a growing acceptance of Bitcoin in mainstream finance, hinting at broader interest and potential investment in the cryptocurrency sector.
Significance:
Jamie Dimon’s evolving stance is a strong signal of the changing narrative around digital assets in the financial world, potentially paving the way for increased institutional engagement and investment in Bitcoin and other cryptocurrencies.
Thanks for following along with this week’s crypto highlights. Your engagement and curiosity are what drive us to bring you the latest and most relevant updates.
Stay tuned for more insights next week!
Best,
The WAGMI Fund Team
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