ETC Group's founder and CEO Tim Bevan joins Proactive’s William Farrington to discuss Bitcoin's extraordinary surge.
For the first time in its 15-year existence, Bitcoin shattered records by exceeding $72,000, showcasing a remarkable year-to-date rise of 70% and a weekly growth of 9%.
Bevan chats ETF approvals, anticipated cuts in interest rates, the forthcoming halving event, and the role of FOMO in the latest rally.
The chat switches to the UK's embrace of crypto-backed Exchange Traded Notes (ETNs), what this means for the underlying spot markets, and why the watchdogs restricting this market to professional investors could curtail its expansion potential.
On the upcoming Bitcoin Halving event, Bevan emphasised its historical importance in influencing Bitcoin's price, though he speculated that its effect might vary given the current market conditions.
Despite anticipations of volatility, the enduring principles of supply and demand suggest Bitcoin's price is set to maintain its upward trajectory.