Bitcoin (CRYPTO: BTC) saw a dramatic surge in price shortly after the Federal Reserve decided to maintain steady interest rates, due to an influx of spot BTC ETF optimism across the cryptocurrency market.
This “Santa Rally” has been driven by applications from various big players, including Grayscale, 21Shares & Ark, BlackRock, and others. We spoke to Eli Taranto, Director at EQITrade, parent company of EQI Bank – a global digital bank for national currencies, crypto and digital assets.
Taranto is confident that crypto is set to become a major player in the global economy due to the positive attitude towards it by both political candidates and top institutions. He believes that the public and private sector need to work together to ensure compliance, as this would be a huge step forward in terms of innovation.
Taranto is also a proponent of CBDCs, which he believes will bring about a more stable and resilient financial system. He sees the interplay between CBDCs and private currencies as an area for government attention, and is an advocate for public-private collaborations.
When asked about Cathie Wood’s prediction that BTC could reach a million-dollar target, Eli said it was entirely possible. He believes the ETF will open up an unprecedented amount of demand and access, and is confident that $500,000 is a reachable goal.
At the time of writing, BTC was trading at $42,784, up 5% in the last 24 hours according to Benzinga Pro.
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