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Fred Cole

An editor at FOMOdrive

  • Jul 31, 2023
  • 2 min read

Bitcoin could reach $300,000 by 2028 - Morgan Creek

Bitcoin BTC coin market up trend

Peter Brandt predicted that Bitcoin will become the leading investment asset.

The head of the SEC believes that the crypto industry is inundated with scammers.

Crypto companies must notify the SEC of any hacks that occur.

Banks could potentially save up to $10 billion by utilizing blockchain technology.

Ethereum is more affected by the performance of Nasdaq than Bitcoin is.

Peter Brandt, a renowned trader and veteran of the financial industry, believes that bitcoin will eventually become the premier investment asset. He believes that US regulators will eventually approve the launch of spot bitcoin ETFs, but this could put pressure on the price of BTC.

Mark Yusko, the founder of Morgan Creek Capital, believes that Bitcoin could reach $300,000 by 2028, largely due to the halving events that will occur in April 2024 and 2028.

Gary Gensler, the head of the US Securities and Exchange Commission (SEC), has warned investors about the risks of investing in crypto assets, noting that the crypto market is "rife with scammers and traders" and that there is a lack of protection.

The SEC has implemented fresh regulations that necessitate crypto businesses to reveal data concerning major cyber security incidents. The document states that organizations must report "substantial" breaches to the agency within four days.

The amendments to the National Defense Authorization Act (NDAA) passed by the U.S. Senate increased oversight of cryptomixers, anonymous coins, and entities engaged in the trading of digital assets.

Paul Manter, the Chief Accountant of the SEC, has cautioned audit firms to be aware of their legal obligations when working with cryptocurrency businesses. He has emphasized that auditors are responsible for verifying the accuracy of crypto companies' statements regarding their reserves.

The SEC has been urged by Grayscale General Counsel to accept applications from all companies that want to launch spot bitcoin ETFs. Over the past few weeks, seven of these applications have already been submitted to the regulator for review.

A study conducted by the Ripple company has revealed that the implementation of blockchain technology in banks and other financial institutions could save up to $10 billion in international transactions.

In January 2022, the Chicago Mercantile Exchange (CME) saw record levels of futures trading for Bitcoin and Ethereum, despite a decrease in trading volume on the cryptocurrency market.

A CME study has revealed that Ethereum is more susceptible to fluctuations in the high-tech Nasdaq 100 than Bitcoin.

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