Bitcoin gatherings fueled by systemic adoption and future Stubcoin Act
Lauren Simonetti from Fox Business explores why Bitcoin is rallying with experts.
Bitcoin gathering With investors loading into cryptocurrency amid a storm of uncertainty in the global economy, downgrades to US debt and growing confidence in future regulations on digital assets, its prices are sitting near record highs.
At the heart of this surge is a few powerful catalysts, according to analysts and executives gathered at this year’s Solana Accelerate Conference. One of the biggest reasons for the assembly: the rise in Bitcoin’s status as a safe haven asset, geopolitical instability and waves of institutional adoption.
“Bitcoin is beginning to behave as a safe haven asset, and it’s becoming increasingly unstable in the world,” said Sergei Nazarov, co-founder of Chainlink. “For the first time, it’s starting to separate from Technology stocks. So if you want to select a second safe haven asset after gold, then Bitcoin is the logical choice. ”
Adding fuel to the Bitcoin Rally is optimistic that meaningful cryptography is finally within reach. (Reuters/Benoitésier/Illustration/File Photo/Reuters Photo)
Johann Kerbrat, senior vice president of Robinhood Crypto, reiterated this sentiment, telling the Fox business that “we see Bitcoin as a reserve as well. And when things are a bit unstable in the market and around the world, we actually use Bitcoin as a backup currency.”
Regulations boost confidence
Add fuel to the assembly: optimism that meaningful cryptography is finally within reach.
It’s momentum Council building, As both Chambers consider Stablecoins’ main regulatory framework, a market structure bill that defines digital currencies fixed on traditional assets such as the US dollar, as well as how digital assets are traded and held.
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“I think we’ll complete it in 10 days and complete it through the Senate,” R-Tenn said. Senator Bill Hagerty, of the group, mentioned the act of genius last week, shortly for “guiding and establishing American national innovation.”
Senator Bill Hagerty, in his office on July 16, 2021, in the Russell Senate office building. (Bill Clark/CQ-Roll Call, Inc, Getty Image/Getty Images)
Rep. French Hill, R-Ark, a leading voice at House Crypto Policy, told Fox Business: “There are no rules for this, so these are important, and this is important.
R-Ark. French Rep. Hill will leave the House Republican Conference meeting at the Capitol Hill Club on January 30, 2024. (Tom Williams/CQ-Roll Call, Inc, Getty Images/Getty Images)
Hill also highlighted the urgency and strategic importance of lawmakers moving forward before they break down in the summer.
“We look forward to seeing the Senate pass the Genius Act and what it contains, how it is structured and how we work together to reach the dollar-backed stubcoin on the president’s desk before the August break,” he said.
Solana Policy Institute Chairman Kristen Smith added that support for crypto policy has been reduced across party boundaries.
“It’s a bipartisan issue,” Smith said. This is not something Republicans and Democrats only care about. This is truly an American issue. And I think it’s starting to translate into the market with the comfort that our economy is stable, the policies are in place, and the comfort that this is an opportunity for future growth in the crypto industry. ”
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Cryptocurrency is also on the rise Vice President JD Vance will head to Las Vegas to give a keynote speech at the Bitcoin Conference this Wednesday.
Vice President JD Vance will speak to reporters on January 30, 2025. (Reuters/Elizabeth Franz/Reuters)
Institutional benefits and ETF inflows
Dozen US Bitcoins highlight the mainstreaming of cryptocurrency Funds traded on the exchange (ETFs) are gathering robust inflows, with investors investing around $4.2 billion so far in May.
This surge in institutional profits marks a major shift in the way traditional investors approach digital assets, viewing them as less and more diverse portfolio components as speculative bets.
meanwhile, Reported by the Wall Street Journal Major US banks are publishing joint Stablecoin in search of partnerships with Crypto companies. The move has sparked concern that private sector stubcoins could begin to suck up from customer deposits and restructure how money moves beyond the financial system.
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“Banks want to be part of their payment space,” Hill added. “Banks are currently moving to real-time payments, and I think we can predict that in the future there will be securities or payments tokenized transactions 24 hours a day, seven days a week.”
With Flux’s global financial system, clarity of regulations on the horizon, and institutional investors entering the fold, Bitcoin breakout could only be the beginning of a broader change in how value is stored and moved.
It’s still possible to see whether Bitcoin will become 21st century digital gold or not something completely different. But one thing is clear. The world of cryptography is no longer in fringes. It’s the front and center.