Bitcoin Surges on Inflation Fears, Upcoming Halving, and Progress Toward Spot ETF Approval
-
Bitcoin (BTC) has rallied strongly in recent weeks due to high inflation, upcoming 2024 halving event, and Grayscale's victory in getting approval for a spot BTC ETF.
-
In 2024, Bitcoin's inflation rate will drop from 1.8% currently to under 0.9% due to the halving. Historically, halving events have preceded big bull runs.
-
Grayscale's Bitcoin Trust (GBTC) trades at a 13% discount to BTC price, presenting an arbitrage opportunity before it converts to an ETF.
-
SEC and Grayscale now working together on ETF conversion after appellate court victory, making conversion likely.
-
Bitcoin halving and advent of spot ETFs in US will likely drive further crypto adoption and price appreciation.