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- The rise in BTC price may be due to the DAPP holdings.
- A research firm suggested DAPP as an attractive option for investors.
Bitcoin survived over this year by facing harsh market conditions. Instead of major ups-downs and crypto winter, Bitcoin still remains to be the largest cryptocurrency by market capitalization. But somewhere it is lacking from becoming “official currency” status, as of now.
ETF an Ideal Equity
The exchange traded funds (ETFs) that includes VanEck Digital Transformation ETF (DAPP) may be one of the ideal equity-based plays. It capitalises on longer-ranging adoption rates of bitcoin and the invasion status of cryptocurrency.
In a report published by Bankless Times it showed Bitcoin adoption in coming years. It includes that, “While it’s impossible to say exactly when Bitcoin will reach global adoption, the current growth rate suggests that it could happen within the next 23 years. That’s to say that Bitcoin could become an official medium of exchange by 2045. However, Bankless Times says that this is only a prediction and that the actual time frame could be shorter or longer depending on multiple factors.”
Additionally, DAPP is quite an attractive option for investors to participate in various digital assets adoption. As its usage trend does not hold digital assets directly. All the ETF which are new in the market, mostly from them are “crypto-correlated.” However, DAPP does not directly hold bitcoin fund structure positions of long-term investors for capitalising some compelling trends.
Jonathan Merry, who is the CEO of Bankless Times stated that, “Our research suggests that the world will have adopted Bitcoin payments by 2045, based on data from historical adoption curves. These point to Bitcoin global adoption reaching 65% by that year.”
Till 2030, Bitcoin adoption may rise upto 10% globally. But this is just a market prediction. The DAPP holdings that are held by the ETF such as COIN (Coinbase), SQ (Block Inc.) are valid beneficiaries.
At the time of writing, Bitcoin noted its market cap is around $391.44B, while at the starting of 2022, it was $884.89B. The above chart shows a massive drop in Bitcoin capitalization, while the currency is still able to sustain its first position from other cryptocurrencies.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
