2024-04-24 15:43:35 ET
Exchange-traded funds and the recent halving event indicate “positive outlook for the future”, said Gracy Chen – the managing director of Bitget as she shared her view on Bitcoin in an interview with Invezz.
Chen expects ETFs to drive regulatory clarity
Chen expects the “next BTC bull market” to come early as halving cuts supply amidst a continued surge in demand on the back of ETFs.
She’s constructive on the world’s largest cryptocurrency as institutional participation will likely improve liquidity and lower volatility that may “attract more investors, driving prices higher”.
Chen is convinced the Bitcoin funds will help improve regulatory clarity as well that may lead to a “stronger focus on compliance with financial regulations like AML and KYC” and a push for “uniform standards worldwide”.
Note that BTC is now trading around the $65,000 level versus a tad below $60,000 it touched just ahead of the halving event.
Chen explains how Bitget safeguards its users
Chen acknowledged security as paramount to mainstream adoption of cryptocurrencies in her interview with Invezz on Wednesday.
Bitget , she added, therefore, prioritises security as evidenced in it having the “world’s second largest insurance fund … with 6,500 BTC stored in publicized wallet addresses for users to monitor in real-time”.
The Bitget Protection Fund is currently worth a whopping $400 million – part of which is earmarked to educate users on various risks associated with the crypto market through “Bitget Academy” as well as to finance the Blockchain4Her and Blockchain4Youth initiatives aimed at “helping youth and women in crypto get closer to becoming entrepreneurs of blockchain tech”.
Bitget offers an “extra layer of trust” via its public proof-of-reserves as well, Chen concluded.
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