Crypto Execs Predict $100,000 BTC by 2024
Industry executives believe that the current bull run could lead to all-time highs for Bitcoin (BTC) in 2024, potentially surpassing $100,000. Pascal Gauthier, CEO of Ledger, stated that 2023 was a year of preparation for the upcoming bull run. Vijay Ayyar, VP of international markets at CoinDCX, suggested that a bull run could happen before the halving next year due to recent ETF news. However, he also warned that an ETF rejection could disrupt this upward trend.
Spanish Man Arrested for Violating US Sanctions with ETH Dev
A Spanish man has been arrested by Spanish police for working with Ethereum developer Virgil Griffith to provide cryptocurrency and blockchain services to North Korea. This action violates US sanctions against the country. Alejandro Cao de Benos faces extradition to the US and up to 20 years in prison. Griffith pleaded guilty to similar charges and received a prison sentence.
Institutions Increase Bitcoin Allocations
Institutional investors have nearly doubled their Bitcoin holdings in the first three quarters of 2023. According to Bybit’s report on asset allocation, institutions hold 45% in stablecoins, 35% in Bitcoin, and 15% in Ethereum. The report also noted a decline in institutional interest in ETH but suggested that upcoming market developments like the rumored BlackRock spot Ether ETF could reverse this trend.
Bitget Protection Fund Reaches All-Time High
Crypto exchange Bitget reported an all-time high valuation of $410 million for its Protection Fund in November 2023. The fund is entirely self-funded and aims to provide security for Bitget users’ assets.
Trezor Launches Education Program in Africa
Trezor, a hardware wallet maker, has launched Trezor Academy, an education program that will be introduced in several African countries throughout 2024. The program aims to provide Bitcoin education to local educators and promote the benefits of self-custody. As part of the initiative, Trezor is also funding Bitcoineta, a Land Rover that will tour West African countries to raise awareness about Bitcoin.
Hot Take: Crypto Execs Predict Bull Run Could Lead to $100,000 BTC in 2024
Industry executives are optimistic about the future of Bitcoin, with many predicting that the current bull run could push its price above $100,000 by 2024. Factors such as ETF approvals and the upcoming halving are expected to contribute to this upward trend. However, there are also concerns about potential ETF rejections and their impact on the market. Overall, the sentiment among crypto execs is hopeful and they believe that once the speculative phase is over, builders can focus on solving real-world problems with blockchain technology.
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