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On Friday, the U.S. Securities and Exchange Commission (SEC) issued approval for the world’s largest wealth management BlackRock’s Bitcoin options. They will be listed and then traded on the Nasdaq exchange under the IBIT ticker.
Bitcoin expert and co-founder of the MicroStrategy behemoth Michael Saylor commented on this remarkable event, saying that this approval of Bitcoin-based options offered by BlackRock will greatly “accelerate institutional Bitcoin adoption.”
This is another major milestone on the path of institutional adoption for Bitcoin as it gives institutional customers an opportunity of embracing the fastest growing asset, “digital gold” as it often gets referred to by Bitcoiners, without having to hold BTC directly and thus avoiding all the difficulties associated with it.
Angel investor and founder of the “Pomp Investments” fund, a vocal Bitcoin supporter Anthony Pompliano has taken to his X account to share his take on this historic approval of BlackRock’s Bitcoin options with his vast audience of 1.6 million.
Just like Saylor, Pompliano said that this approval would “bring more institutional adoption” of Bitcoin and this fact will bring Bitcoin volatility down. However, he also believes that it will “limit explosive upside of Bitcoin.”
The approval of options on Blackrock's Bitcoin ETF will bring more institutional adoption of the asset, which will lower volatility & limit explosive upside of bitcoin.
— Anthony Pompliano 🌪 (@APompliano) September 20, 2024
Bitcoin will be a great asset going forward.
Just don't expect the same returns as in past years.
Pompliano stated that he expects BTC to be “a great asset going forward,” but he warned investors that they should not expect the same Bitcoin returns as in past years.