Key dealers
- Bitfully the CEO will join other industry leaders to discuss a potential US Bitcoin Reserve initiative with Senator Lummis.
- The regulatory environment for digital assets in the United States becomes more constructive, with favorable conditions for Bitcoin investments in the first quarter of 2024.
Senator Cynthia Lummis works actively with a bill related to a US Bitcoin reserve and has planned a collection on March 11 in Washington DC to discuss the initiative with industry leaders, says Bitwise Ceo Hunter Horsley at CNBC’s quick money this week.
On the question of the current status of the potential establishment of a strategic Bitcoin reserve in the United States, given the perceived lack of activity, Horsley confirmed that the concept is “definitely in play.”
“It’s one of the articles to evaluate. It was in Trump’s executive order shortly after he was inaugurated. It is one of the articles on Treasury’s agenda, ”Horsley said. “And then Senator Lummis works with a bill around it.”
“She actually has a collection on March 11 where a gang, myself and a number of other CEO will be in DC to discuss the initiative,” he Added.
Horsley also noted growing Bitcoin adoption of nations and pointed to the latest Bitcoin purchase from the Mubadala Investment Company. According to the last Sec declining invested approximately $ 437 million In Blackrock’s Bitcoin ETF, Ishares Bitcoin Trust.
According to Bitwise’s co-founder, about 11 countries now have a certain level of bitcoin exposure. This fact reinforces the legitimacy of bitcoin as a strategic asset.
“Believe it or not, it’s very real,” he said.
Bitcoin is for sale
Bitcoin has experienced fluctuations in recent weeks in the midst of macroeconomic uncertainty. On Thursday, BTC dropped below $ 80,000 For the first time since November.
Horsley discussed Bitcoin’s price volatility and said it is a well -known characteristic of digital access, but it still surprises people.
He noted that the first quarter has historically been the best time for investors to enter the Bitcoin market, a trend that Bitwise has observed among its customers.
Horsley also predicted that more traditional investors, including wealth managers, asset managers and banks, would get involved in Bitwise’s Bitcoin ETF and the broader asset class during this period of price fluctuations.
“I think price is always a story in this space. If you remember when Bitcoin ETF launched, it went from $ 46,000 to $ 39,000 and people said, OK, maybe it was a purchase rumor, selling news history, ”Horsley said.
“And then it worked its way back to where it was recently. So I think … it’s never been a better time for this asset class, ”he added.
Regulation as a key factor
While recognizing pricing, Horsley sees regulation as the most prominent history in the Bitcoin market at this time.
The regulatory environment for digital assets has changed positive Coin base And Uniswap, emphasized Horsley. He described this moment as remarkable.
“I think the story right now is regulation. It is the most obvious. It has been a sea change since the inauguration. The White House, Congress and SEC have turned to a constructive level that has never been true before, ”Horsley said.
“It’s almost hard to imagine that Washington DC is positive when it comes to Bitcoin and Crypto,” he said.