The company believes that the approval of a spot Bitcoin ETF in the United States will lead to inflows of more than $30 billion in the next months.
Bitcoin mainstream adoption (B T c) Institutional investors have warned of a possible divergence in the gold market in the coming years. According to a report by Matrixport, Bitcoin is going to shut down soon challenge Gold as a store of value is due to the simple fact that gold has outperformed the latter over the years. Additionally, demand for Bitcoin has increased significantly over the past year despite the collapse of FTX and Alameda Research, which wiped out over $30 billion from the budding industry.
Specifically, more than 10 fund managers with a combined market capitalization of more than $17 trillion have filed with the United States Securities and Exchange Commission (seconds) to offer a spot bitcoin exchange-traded fund (ETF). Interestingly, the SEC lost a case against Grayscale Investments because it did not have enough evidence as to why Grayscale could not convert its GBTC product into a spot Bitcoin ETF. As a result, experts believe that the chances of spot Bitcoin ETF approval in the coming six months have increased sharply.
Matrixport on why Bitcoin is better than gold
According to Matrixport, an all-in-one crypto financial services platform, Bitcoin has a better chance of becoming a global store of value than gold in the coming years. Furthermore, Bitcoin is a better cross-border asset than gold, which requires a lot of regulation requirements to facilitate similar services. Additionally, Bitcoin is more versatile and provides affordable but high-quality services to all users without any discrimination.
“Even today, storing assets in the form of gold has not only become fashionable in the digital age, but also comes with significant restrictions when crossing borders,” wrote Marcus Thielen, head of research at Matrixport. “Bitcoin provides a solution to this dilemma,” he added. , enabling fast and relatively imperceptible movement of value across borders.
Bitcoin’s adoption by mainstream users has come under scrutiny by global regulators amid claims that the digital asset is being used by various countries to circumvent global sanctions. The ongoing war between Russia and Ukraine, and more recently between Israel and Gaza, has significantly affected the global supply of oil and gas products.
The fact that Bitcoin has high volatility due to high speculation by global investors, Matrixport expects its market capitalization to increase more than that of gold, which has an uncapped supply.
“Therefore, given the current state of technological development, Bitcoin’s primary role is likely to be as a store of value and a speculative financial asset, similar to gold,” the report said.
Market Outlook and Price Action
The market cap of Bitcoin (BTC) has hovered between $500 billion and $600 billion over the past few months, but experts at Matrixport believe that more than $30 billion could flow into the Bitcoin market following spot ETF approval . Currently, Bitcoin price action is awaiting the halving event early next year to trigger a larger crypto bull run.

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