Bitcoin [BTC] has once again broken its all-time high (ATH), capturing the attention of investors around the world. This increase comes as the cryptocurrency’s market capitalization surpasses previous records, indicating renewed bullish sentiment in digital assets.
Mike Belshe, the CEO and founder of BitGo, in one interview with Forbes, on March 6, noted:
“Well, I think this is all the news we’ve been building towards for almost a decade now. The main driver here is obviously the ETF approval that happened in January.”
What is the driving force?
Belshe attributed the increase to several key factors, most notably the approval of Bitcoin ETFs in January, which gave investors a larger distribution channel to access direct exposure to BTC.
He further emphasized the appeal of Bitcoin’s fixed monetary policy as opposed to traditional fiat currencies, especially amid uncertainties in global monetary policy.
“You know, on the monetary policy front, there’s a tremendous amount of uncertainty and people are saying, I don’t know what’s going to happen to the U.S. dollar.”
Furthermore, Belshe highlighted the growing recognition of Bitcoin’s potential as a store of value, prompting both retail and institutional investors to consider Bitcoin as part of their portfolios.
Private investors versus institutional investors
Belshe focused on current market dynamics and also discussed the role of retail versus institutional investors in driving the recent price increase.
He noticed,
“This is largely driven by retail.”
He added:
“There are a lot of people who say this is the institutional money. I think the institutional money still has to come.”
As BTC continues to break barriers and attract mainstream attention, Belshe’s insights have underscored the transformative potential of this digital asset.
With traditional financial institutions increasingly embracing BTC, regulatory clarity and increased investor interest, the rise of Bitcoin marks a major financial change.
