At the Dubai-hosted Token2049 conference, Paolo Ardoino predicted that the market would eventually let go of the mining rewards cut. The reason behind this is that out of a total of 21 million bitcoins, more than 19.5 million have been mined. Additionally, the decrease in reward compared to when miners received 25 BTC for a mined block instead of 50 BTC is now not as significant. The price of cryptocurrency already accounts for the impending halving as investors and traders get ready for it in advance.
The advent of spot Bitcoin ETFs in January in the US was hailed by Ardoino as the single most positive development impacting the growth of the cryptocurrency ecosystem. The CEO of Tether is of the opinion that even a small percentage of big hedge funds or conventional banks can significantly boost the BTC rate. Because of exchange-traded funds (ETFs), regular people who didn’t have the time or interest to learn how to buy Bitcoin on cryptocurrency exchanges can now buy cryptocurrency.
Investors are finding it easier to get into Bitcoin through cryptocurrency-linked exchange-traded funds. Ardoino emphasized that Bitcoin ETFs can be used by beginners to delve into the true advantages of the largest cryptocurrency in the world, rather than focusing solely on making a fast profit.
Bitcoin, according to Paolo Ardoino, will soon be part of the portfolio of every big investment firm. Tether reportedly added $627 million to its bitcoin holdings, per Arkham Intelligence.