TL; DR
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The US, UK, Europe and countries in the Asia-Pacific region (including Hong Kong and now Australia) have all launched BTC ETFs, strengthening crypto’s presence in global markets.
Full story
There is an old proverb that, according to scientists, surfaced around 1990 AD that reads:
“Nobody gets fired for buying IBM.”
The idea was: IBM had cemented itself as the industry standard – so for those in corporate IT departments, this was the safe bet.
These trends start from top to bottom:
A small handful of major industry companies adopt a technology → their competitors imitate it → it becomes standard.
When it comes to financial product adoption, the US is the ‘big dog’. When the US adopts something, it gives other countries/regions the green light to follow suit.
It’s strange, but very real.
And we are now starting to see this in the adoption of crypto in the traditional financial world – most recently in the Australian launch of a BTC ETF.
Which on paper isn’t huge. Australia’s GDP is ~$1.6 trillion – compare that to NVIDIA’s market cap of $2.8 trillion and it feels insignificant…
But zoom out and you start to see a trend:
The US, UK, Europe and countries in the Asia-Pacific region (including Hong Kong and now Australia) allow investors to buy Bitcoin through local exchanges, ensuring regulatory clarity and facilitating investment in digital assets are stimulated.
Better yet, once launched, these decisions typically cannot be reversed.
This means that crypto’s place in global financial markets is being further entrenched, thanks to the adoption of traditional financial markets (TradFi).
We’d love to see it!