As a seasoned crypto investor with over a decade of experience in this wild and volatile market, I’ve seen it all – from the meteoric rise of Bitcoin to its devastating crashes. The recent approval of BlackRock’s Bitcoin options by the SEC is undeniably a significant milestone for the industry, and I wholeheartedly agree with Anthony Pompliano that this move will bring more institutional adoption.
On a Friday, the U.S. Securities and Exchange Commission (SEC) granted approval for Bitcoin options from the world’s largest wealth manager, BlackRock. These options will subsequently become available for trading on the Nasdaq exchange, with the symbol “IBIT” representing them.
Michael Saylor, a Bitcoin authority and co-founder of MicroStrategy, expressed his thoughts on this significant development, stating that the approval of Bitcoin-linked options by BlackRock could significantly boost “the rapid increase in institutional Bitcoin acceptance.
This development represents a significant step forward in the institutional acceptance of Bitcoin, as it allows institutional investors to invest in the rapidly expanding “digital gold” – a term frequently used by Bitcoin supporters – without needing to own Bitcoins themselves, thereby circumventing all the challenges typically associated with holding this cryptocurrency.
Known for being an angel investor, running “Pomp Investments,” and a strong proponent of Bitcoin, Anthony Pompliano recently expressed his views on the historical approval of Bitcoin options by BlackRock, to his massive following of 1.6 million, via his X account.
Similar to Saylor, Pompliano expressed that this approval could increase the institutional adoption of Bitcoin, thereby reducing its volatility. Yet, he also anticipates that it might cap Bitcoin’s significant upward price movements.
Approving options for Blackrock’s Bitcoin ETF could lead to increased institutional investment in Bitcoin, potentially reducing its volatility and dampening extreme price surges. However, keep in mind that future returns may not match those seen in previous years.
— Anthony Pompliano 🌪 (@APompliano) September 20, 2024
According to Pompliano, he anticipates that Bitcoin will prove to be a valuable asset in the future; however, he cautions investors against expecting the same level of returns as was seen in previous years.
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2024-09-21 23:12