Billionaire venture capitalist Chamath Palihapitiya believes that 2024 could be the biggest year for Bitcoin (BTC).
In a new episode of the All-In Podcast, Palihapitiya says that the approval of a slew of Bitcoin exchange-traded funds (ETFs) will likely be a game-changer for Bitcoin.
According to Palihapitiya, the ETFs will allow certain segments of the population to finally get some exposure to BTC, which could ultimately lead to mainstream adoption.
“I think this is the most important year for Bitcoin that has ever existed. We are probably days away from a series of ETFs being approved, and so this is the moment for Bitcoin to use that old term ‘cross the chasm’ and really see mainstream adoption where our parents and grandparents understand what it is, can buy it and then do buy it.
And I think that, if all of this comes to pass, Bitcoin will be a part of the traditional financial lexicon by the end of 2024. So that is my most anticipated trend of the year.”
The U.S. Securities in Exchange Commission (SEC) is expected to make a decision on several Bitcoin ETF applications between now and January 10th. Some of the BTC ETF hopefuls include asset managers BlackRock, ARK Invest, VanEck and Valkyrie Investments.
Bitcoin is trading at $43,936 at time of writing.
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