Much bullish

$Riot Platforms(RIOT.US)$ Here are a few reasons to be optimistic about Bitcoin and cryptocurrencies.

First, the past three halvings have continued to cause the price of Bitcoin to reach record highs within a few months of the incident. We believe this trend will accelerate as more institutional investors include Bitcoin in their portfolios, further tightening supply. This “upward wave” of Bitcoin should lift the boat of all cryptocurrencies.

Second, the launch of a cash Bitcoin ETF in January 2024 was a key development. These ETFs allow investors to trade stocks through existing retail brokerage accounts and promise wider usability through financial advisors. Companies such as Merrill Lynch, Morgan Stanley, and LPL are conducting due diligence on the usability of their platforms. Approval of these platforms seems inevitable, enhancing accessibility and streamlining the Bitcoin investment process, which could lead to higher demand.

Third, regulatory developments in the global cryptocurrency market will significantly affect Bitcoin's price dynamics. It is critical that the US may pass the bill to establish a regulatory framework for cryptocurrencies and European Crypto Asset Market (MiCA) regulation. They will help dispel the notion that Bitcoin and cryptocurrencies are more like “pet stones,” acknowledging that they are technically practical stores of value. This shift in mindset could transform Bitcoin and cryptocurrencies from speculative tools to strategic investments, and possibly even high-quality investments.