Bitcoin Is On Its Way to the Moon For Investors and Sports Betters AlikeOct 22, 2021, 3:16PM
With Bitcoin reaching its all-time highs this week and the first Bitcoin ETF being approved by the American SEC, all eyes are on the coin.
It’s safe to say that Bitcoin has broken through to the mainstream. With a market cap of nearly 1.2 trillion dollars and a value reaching an all-time high of above 66 thousand dollars, everyone’s eyes are on the world’s largest cryptocurrency these days. One of the key drivers of Bitcoin’s recent success is the approval by the SEC of the first Bitcoin ETF in the United States. The ProShares Bitcoin Strategy ETF will allow mainstream investors to buy BTC without buying the coin directly. Instead, they will be able to purchase Bitcoin futures as a part of an investment package. In theory, any investment broker in the United States could take on the ETF and therefore allow their investors to buy Bitcoin. Since most investors go through a brokerage and stay clear of cryptocurrency exchanges, this will open up crypto to a whole other class of investors. Most analysts say that this will also drive the direct purchase of BTC since it amounts to a massive endorsement of the coin by Wall Street and opens it up to a much larger volume of traders.
Bitcoin Betting Is Also at All-Time Highs
Just as Bitcoin is taking Wall Street by storm, it is also taking over the world of online betting. More and more sites are offering cryptocurrency as a betting option. In particular, loads of sports betting sites are providing a bitcoin sportsbook option, and betters, are loving it. Forbes has called sports betting the new frontier for Bitcoin and blockchain technology. Cryptocurrency just seems to make so much sense as a digital currency for all kinds of online betting and of course, Bitcoin is the most popular.
It is thankfully becoming easier and easier to find a sports betting site that allows a BTC betting option that allows users to bet on events like boxing, soccer, football, baseball, hockey, and more as well as other betting activities like casino games. This makes sense since so many online gamers and gamblers have adopted Bitcoin and many are looking for a safe, private way to place wagers and earn money online. BTC is increasingly secure, popular, and useful for this purpose, and in fact, it is one of the fastest-growing use cases for the digital coin.
Gambling or Investing, Bitcoin Is a Safe Bet
One thing is clear from the trends we’re seeing on crypto exchanges, on Wall Street, and in the world of online sports betting: Bitcoin is everywhere and it is still growing at a rapid rate. It is not outlandish to assume that the role the coin plays will continue to grow in significance in both the investing and gambling worlds (and indeed where the two worlds meet). If there is one thing that we’ve learned from covering Bitcoin, it’s that to the moon has repeatedly proven an accurate description of the BTC price and popularity, and all signs point to this trend continuing for the foreseeable future.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.