Having $38.8 billion worth of crypto assets under its management, Grayscale has stated in its current application to the SEC that it plans to convert its GBTC fund into ETFs. Expressing its commitment about the EFT, Grayscale has also stated that it is at the last stage of the converting process of Bitcoin and Ethereum Trust funds to EFT.
MicroStrategy Once Again Buys Bitcoin
MicroStrategy, the company with the most Bitcoin assets in the world, bought another $15 million BTC at an average of $59,339 the previous day. The total BTC assets of business intelligence company MicroStrategy thus reached $91,579.
Ark Investment: BTC Will Surpass Gold
According to the current report of Ark Investment, the market valuation of Bitcoin will surpass that of gold with over $10 trillion market value in the future. This means that Bitcoin will increase 10 times in the coming years.
Trade Volumes Break Records
According to data collected by The Block, the spot trading volume of cryptocurrency exchanges reached $1.17 trillion in March. Thus, a volume of over $1 trillion was achieved for two consecutive months.
Bitcoin Awaits a Wave of Institutional Interest
According to Oanda’s senior market analyst Moya, BTC is waiting for the next institutional wave to rise. Moya has stated that BTC is in a healthy consolidation period and BTC's next target is $75,000.
Bitcoin Is Trading Over $66,000 in South Korea
The local Bitcoin price is 15% higher in South Korea. Called the kimchi premium, this difference is an indication of the demand for Bitcoin in South Korea. Bitcoin is currently traded on South Korean exchanges at $66,633.
Garlinghouse Comments on Bitcoin
Ripple CEO Garlinghouse said in a recent Bloomberg interview that Bitcoin is the most inefficient payment option ever created, and the energy consumed during the mining phase is very harmful to the atmosphere.
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