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Layer 1 Foundation: Advancing BRC 20 Token Standards

Establishing Trust in BRC 20: The Layer 1 Foundation's Mission In the ever-evolving landscape of blockchain technology, the introduction of new standards can often lead to confusion and mistrust. Recently, the formation of the Layer 1 Foundation marks a significant step toward ensuring a reliable and transparent framework for the BRC 20 fungible token standard. This coalition of Bitcoin developers is poised to foster an environment where innovation thrives alongside safety and simplicity. Key Objectives of the Layer 1 Foundation The Layer 1 Foundation has outlined several critical goals that are essential for the successful deployment and governance of the BRC 20 token standard: Simplicity in Technical Architecture : A streamlined approach will be prioritized to facilitate easier integration and utilization of the BRC 20 standard. This simplicity is expected to attract a broader range of developers and users, enhancing overall adoption. Safety-First Approach : The founda...
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Produced by Daniel Aharonoff & Mogul Media AI

Standard Chartered Bank Predicts Bitcoin Price to Surpass $200,000 by 2025

Standard Chartered Bank issued a prediction on Monday stating that the price of Bitcoin could surpass $200,000 by the end of 2025 if ETF-related inflows materialize as expected. The head of financial research at Standard Chartered Bank, Geoffrey Kendrick, emphasized the potential for Bitcoin ETFs to drive significant price upside for BTC by providing institutional investors exposure to Bitcoin without the need to directly purchase and store the digital asset. Notable investment firms such as BlackRock, Grayscale, Ark, iShares, Bitwise, VanEck, Wisdomtree, Invesco, Fidelity, and Franklin have Bitcoin ETFs in the final approval stages.

Key Points:

  • Standard Chartered Bank predicts Bitcoin to reach over $200,000 by the end of 2025 with ETF-related inflows.
  • Bitcoin ETFs allow investors exposure to Bitcoin's price movements without owning the digital asset directly.
  • Approval of Bitcoin ETFs could normalize institutional participation in Bitcoin and drive significant inflows and price increases for BTC.

Bloomberg's senior ETF analyst, Eric Balchunas, also shared insights on the potential impact of a Bitcoin ETF. Balchunas suggested that a Bitcoin ETF could attract substantial investments, estimating potential inflows of $10 billion in the first year, with projections of $30 billion to $50 billion over three years and potentially reaching $100 billion within five to ten years, comparable to gold's market size.

Additional Insights:

  • Balchunas expressed optimism about the approval of a Bitcoin ETF, indicating a 95% chance of approval by the SEC in January.
  • The analyst's long-term projections suggest significant growth potential for Bitcoin ETFs, potentially rivaling the market size of gold over time.

The predictions and analyses by Standard Chartered Bank and Bloomberg's Eric Balchunas underscore the growing anticipation surrounding Bitcoin ETFs and their potential impact on Bitcoin's price trajectory and institutional investment landscape. The approval of Bitcoin ETFs could mark a significant milestone in the broader adoption and normalization of Bitcoin within traditional financial markets.

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