As Bitcoin (BTC) celebrates its 15th birthday, it is revelling in a long-awaited gift: a bump-up in price and newfound liquidity, thanks in no small part to the US Securities and Exchange Commission’s recent approval of spot Bitcoin ETFs.
Spurred by a Grayscale court victory, The SEC’s early January decision to grant 11 firms license to offer spot Bitcoin ETFs ushers in a new era for the oldest and most widely accepted digital asset by offering traditional retail investors easier access and giving it more mainstream credibility.
With the price of Bitcoin jumping more than 50% in 2024 and with Ethereum (ETH) and other digital currencies climbing back to near-record highs, the question now is what’s next for Bitcoin, Ethereum, and other cryptocurrencies.
Is it a store of value, like gold? Is it a digital replacement to ‘paper money,’ or fiat currency? Is it a way to help investors diversify their investment portfolios? Or is it the framework for ledger technology that will continue to re-define how digital information is stored, encrypted and valued?
In the short term, as well, other factors are driving the price of Bitcoin, including an expected “halving,” which cuts in half the amount of tokens that Bitcoin miners receive as reward for their work. The next halving, which happens once every four years is so, is due to occur in April.
In this segment sponsored by Grayscale, Yahoo Finance Senior Contributor Corey Goldman sat down with a who’s who of Bitcoin experts, including Grayscale CEO, Michael Sonnenshein, CoinDesk Indices Managing Director Andy Baehr, Matt Kohrs, host of the crypto-focused Matt Kohrs show, and TechCrunch Senior Cryptocurrency Reporter, Jacquelyn Melinek, to break it all down.
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Editor’s note: This article was written by Corey Goldman and Luke Brooks.
