A second futures-based ETF could come as soon as this week. Four more ETF providers are hoping to move forward with trading this month. Many investors are watching to see if bitcoin will jump above $64,800 this week to reach a new all-time high.īitcoin futures ETFs will also be a big regulatory feat for the still young crypto industry, which has long struggled to cement crypto's place in the highly regulated financial world. The price of bitcoin climbed more than 2% on Monday to $62,041.84, according to Coin Metrics. or are concerned that these providers may be unregulated and subject to security risks." "BITO will open up exposure to bitcoin to a large segment of investors who have a brokerage account and are comfortable buying stocks and ETFs, but do not desire to go through the hassle and learning curve of establishing another account with a cryptocurrency provider. It doesn’t make any sense."We believe a multitude of investors have been eagerly awaiting the launch of a bitcoin-linked ETF after years of efforts to launch one," ProShares CEO Michael L. Even if single crypto becomes the world’s de facto crypto still, there’s no possibility that Dogecoin will ever become more valuable than China’s whole GDP. Therefore, it’s tough to predict which one will become mainstream cryptocurrency. But still, it’s not enough to replace the US dollar. Nevertheless, Bitcoin, Ethereum, and other cryptocurrencies have shown great potential. Only a few people know about it, and it isn’t widely accepted. On the contrary, cryptocurrency is still in its infancy. Our whole economy revolves around traditional money. Wider acceptance, faster and easier transfer are a few of them. Still, the regular currency has superior use cases and functionality than cryptocurrency. That’s why over the years, Bitcoin and other cryptocurrencies became popular. They want a financial system that is independent of any government control. As treasury printing money, the government adding debt recklessly, and inflation soaring, many are dissatisfied. Many people don’t trust the US government. So, for $100 per Dogecoin, the total market cap of Doge would be more than $18 trillion, greater than China’s economy and almost equal to the US economy. If we sum up all the countries’ GDP, the total GDP would be $87 trillion.įor each dollar increase in Dogecoin price, the market cap would need to rise $180 billion. The US has a GDP of around $21 trillion, and China has approximately $15 trillion. However, $100 per Dogecoin is quite unachievable. Therefore, $1 per Dogecoin is not a pipe dream. A market cap of $180 billion is not impossible. So, there’s the tremendous growth potential for this coin. Furthermore, Dogecoin transfer time is 10x faster than Bitcoin. Moreover, as there are 5 billion coins per year for miners, the Dogecoin transfer fee will remain low. On the other hand, Dogecoin has promisingly low transaction fees. Ethereum’s transaction fees are also high. It’s already prohibitively high enough to be useful for daily retail transactions. The transaction cost of Bitcoin is rising steadily. Therefore, people now buy Bitcoin and hold on to it. Nowadays, Bitcoin is considered as an asset, an investment vehicle to grow money.
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