2024

April

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/chamath-palihapitiya-foresees-mainstream-adoption-of-bitcoin-by-2024/" data-wpel-link="internal">Chamath Palihapitiya Foresees Mainstream Adoption of Bitcoin by 2024</a> 
Billionaire venture capitalist Chamath Palihapitiya recently addressed the leading cryptocurrency <a href="https://en.coin-turk.com/bitcoin-etps-continue-to-break-records-following-blackrocks-bitcoin-etf-application/" data-wpel-link="internal">Bitcoin</a> (BTC), seeing 2024 as the year it could become mainstream, catalyzed by an ETF. 
<h2 id="bitcoin-adoption-rate">Bitcoin Adoption Rate</h2> 
The Sri Lankan-born Canadian and American investor stated on January 7th that the most significant trend of 2024 will be the mainstream adoption of Bitcoin. Commenting on the potential approval of spot Bitcoin ETFs, Palihapitiya used the term “most important year” for Bitcoin, saying: 
<blockquote> 
 If we use an old term for Bitcoin, Crossing the chasm, it’s time to really see mainstream adoption where our parents and grandparents understand what Bitcoin is, can buy it, and then actually do buy it. 
</blockquote> 
If all this happens, he indicated that Bitcoin will become part of traditional finance by the end of 2024. “Crossing the chasm” refers to a concept in the <a href="https://newslinker.co/category/technology/" data-wpel-link="exclude">technology</a> adoption life cycle, popularized by Geoffrey A. Moore in his book of the same name. It defines the gap between early adopters of new technology and the early majority of more pragmatic users. 
For technologies like Bitcoin, crossing the chasm could mean the transition from visionary cryptocurrency enthusiasts to mainstream business and consumer adoption. This is often seen as the fundamental challenge in mass adoption. Palihapitiya’s recent comments are in stark contrast to his April 2023 claims that “crypto is dead” in America. This could potentially happen if the U.S. Securities and Exchange Commission approves one or more spot Bitcoin ETFs this week. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-299466 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/analistt.webp" alt="" width="1280" height="720"> 
<h2 id="critical-process-for-btc">Critical Process for BTC</h2> 
Failing to do so would likely send BTC prices below $40,000. However, analysts and industry experts are confident that this is unlikely to happen. Nate Geraci, president of ETF Store, highlighted important considerations on January 8th. He mentioned upcoming fee disclosures from BlackRock and Grayscale in particular. 
Fee competition could be very significant in the race to increase fund collateral and attract clients. He also anticipated that Grayscale would either convert or uplift its Bitcoin Trust. With $27 billion in assets under management, they have a significant advantage. Additionally, there will be a major marketing push to put Bitcoin on screens and in media across the United States. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/chamath-palihapitiya-foresees-mainstream-adoption-of-bitcoin-by-2024/" data-wpel-link="internal">Chamath Palihapitiya Foresees Mainstream Adoption of Bitcoin by 2024</a></h5>

Chamath Palihapitiya Foresees Mainstream Adoption of Bitcoin by 2024

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