Ardoino expressed his belief that the impact of the reduction in mining rewards from halving will become less significant over time. With over 19.5 million bitcoins already mined out of a total possible of 21 million, the reduction in reward has become relatively smaller compared to previous halvings. This has allowed crypto traders and investors to anticipate and factor in the halving event into the price of Bitcoin.
In regards to spot Bitcoin ETFs, which were introduced in the US in January, Ardoino sees them as a favorable factor for the development of the cryptocurrency ecosystem. He believes that even a small percentage of investment from large hedge funds or traditional financial institutions can significantly boost the price of BTC. These ETFs have also made it easier for retail investors without much knowledge or interest in crypto exchanges to purchase Bitcoin.
“Crypto-linked exchange-traded funds are making it easier for investors to get into Bitcoin,” emphasized Ardoino. He also highlighted that beginners can use Bitcoin ETFs as a gateway to explore the true benefits of the largest cryptocurrency in the world rather than solely seeking quick profits.
Ardoino also stated that the existence of spot Bitcoin ETFs will not diminish the interest in stablecoins like USDT. As evidenced by the recent growth, with USDT’s market capitalization reaching $110.4 billion, Tether believes stablecoins are essential for individuals who lack access to traditional banking services, particularly in developing countries rather than in highly developed nations like the US.
Previously, Ardoino predicted that Bitcoin would make its way into the portfolios of major investment companies. Additionally, Tether, according to Arkham Intelligence, has increased its bitcoin holdings by $627 million.