According to the CEO of Swan Bitcoin, the noise of Bitcoin’s main funnel is dying down.
Corey Clipston, CEO of Swan Bitcoin Spot Bitcoin (BTC) exchange-traded funds (ETFs) have suggested that they will buck the loud and flashy trading strategies that have served as the first entry into the crypto space for many since 2017.
In a recent interview with Bloomberg on December 1st, Clipston reiterated that Bitcoin ETFs offer an alternative entry into the market at a time when money-backed crypto trading schemes are tainted.
“The last six years from 2017 to 2023, the opening peak for people looking to get into bitcoin, was extremely noisy, tainted by all the crypto marketing programs backed by $50 billion in venture capital, basically trying to market and dump crypto. Signs.”
He went on to clarify that an ETF works for the product in a similar way to an IOU, as opposed to a futures-based option. Basically, it represents a paper version of Bitcoin, but the organization wants to support investors by buying the actual Bitcoin.
“I think it's a big tipping point if people want to get into bitcoin and explore a little deeper and hold more,” he said.
What's more, Clipston expressed similar optimism in January, aligning with crypto analysts who laid out a “clear runway” for Bitcoin ETF approval.
“That window seems to have narrowed to January 8, 9 or 10. All the signs that we're out of the SEC and the SEC seem to make a lot of sense,” he said.
Related: Swan to Terminate Client Accounts Using Bitcoin Crypto-Mixing Services
This comes after a major bank recently announced that it will increase the value of Bitcoin by 165% by 2024.
On November 30, banking giant Standard Chartered predicted that bitcoin would reach six figures by the end of 2024.
Meanwhile, Standard Chartered head of MFX Research, West and Crypto Research Geoff Kenrick's recent forecast change suggests further price increases are likely before April 2024:
“We expect further price appreciation ahead of the previous halving, particularly through the larger-than-expected introduction of US spot ETFs.”
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