Over its 15-year history, Bitcoin has transitioned from a niche form of digital settlement into a $700B asset tracked by the largest asset managers in the world.
Born from the ashes of the 2008 financial crisis, Bitcoin’s introduction of an inflation-resistant medium of exchange attracted a small but passionate crowd. Many early adopters of the technology grew to firmly oppose traditional finance after the economic meltdown of 2008 destroyed trust between banks and citizens. To many of these investors, Bitcoin represented a speculative but alluring opportunity for financial self-sovereignty.
A decade and a half later, that value proposition is as solid as ever, and the very firms that many early Bitcoiners disparaged are knocking at the front door. Currently, the Securities and Exchanges Commission (SEC) is reviewing no less than twelve spot Bitcoin ETF applications, and the crypto markets have been surging as a result, with BTC up nearly 30% in the last 30 days.
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#undefined [Source: TheDefiant]