VanEck Report: Bitcoin Adoption Surges with Banks, Countries, and ETFs Holding 15% of Circulating Supply
US asset manager VanEck has revealed in a recent report the significant evolution and adoption of BTC by banks, countries, and ETFs. These big players now hold $175 billion worth of BTC, with ETFs alone holding $75.4 billion of this amount.
The Adoption of BTC Facilitated by the Removed Technical Barrier
The report highlights the acceptance rate of Bitcoin in its early days when it was primarily held by tech enthusiasts. However, with the removal of technical barriers and the introduction of user-friendly wallets, exchanges, and marketplaces, the adoption of Bitcoin has increased significantly. Institutional investors are also recognizing BTC’s potential as a store of value and portfolio diversifier.
BTC’s role as a hedge against inflation is also emphasized in the report, especially in light of the COVID-19 pandemic and the resulting inflationary pressures on fiat currencies. Bitcoin’s fixed supply and halving events make it an attractive option for investors concerned about inflation.
Overall, the report suggests that the growing adoption of Bitcoin by institutions and countries, coupled with advancements in Layer-2 solutions like RGB protocol, is paving the way for further growth and development in the crypto ecosystem.
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