Spot Etfs issue challenge to gold: will they win?

On Thursday, February 29, 2024, when the price of Bitcoin surged past $63,000, the total assets under management (AUM) of US Bitcoin Spot ETFs surpassed half (precisely 51.5%) of the amount invested in gold ETFs. Currently, according to data monitored by etfdb.com, $92.1 billion is invested in 19 US-listed gold ETFs. In comparison, Bitcoin ETFs now hold a total of 746,600 BTC, as highlighted by Dune data. When the price of Bitcoin reached $63,636, these funds accumulated over $47.5 billion in assets, more than half of those of the precious metal.

This success follows the SEC's approval of Bitcoin ETFs seven weeks ago, representing a significant acknowledgment of cryptocurrency as an investable asset. Bloomberg's ETF analyst, Eric Balchunas, went even further, anticipating that Bitcoin ETFs, following their current growth trajectory, will surpass gold within the next two years. His opinion was echoed by BlackRock CEO Larry Fink, who referred to Bitcoin as "digital gold" and insurance against currency devaluation and inflation.

In the last 24 hours, Bitcoin reached $63,636 before dropping by 6.4% to around $59,500 as several investors sought to cash in their profits. Buyers subsequently returned, pushing the value back above $61,000.

As Bitcoin approaches its all-time high, the presale of Green Bitcoin raises $1 million. The positive trend of Bitcoin, largely linked to the success of Spot ETFs, is having positive cascading effects on the entire cryptocurrency market, including those in presale.

An example of this is the eco-sustainable project Green Bitcoin, which, just yesterday, saw its presale phase exceed $1 million in funding. With an innovative gamified staking model and a high-energy efficiency mechanism, Green Bitcoin offers $GBTC holders a way to stake their tokens and generate returns.

The unique gamified staking model of Green Bitcoin offers a distinctive system. $GBTC holders can attempt to predict daily Bitcoin price movements, and if successful, earn rewards varying based on accuracy and bet size. This system resets daily, ensuring continuous engagement. Unlike typical staking protocols offering fixed returns, Green Bitcoin's model offers dynamic returns.

As outlined in the Green Bitcoin whitepaper, over 27% of the total token supply has been allocated as staking rewards, ensuring a substantial incentive pool for BTC price predictions to be distributed over two years. Leveraging renewed interest in the crypto market, Green Bitcoin's presale has surpassed the million-dollar threshold, offering investors the chance to purchase tokens at a discounted price.

Unlike typical presale settings, the development team encourages long-term holding by allowing users to immediately stake purchased tokens. Green Bitcoin's social channels are experiencing significant engagement, with the Telegram group seeing substantial growth in the last week, as well as X's profile reaching 3,400 followers.

Coinsult, a renowned blockchain security company, audited the token's smart contract without finding any issues, which has been positively received by several influencers interested in the project, such as YouTuber Crypto Boy, who praised Green Bitcoin's "Predict-to-Earn" model.

Green Bitcoin is on the Ethereum blockchain and was launched at the end of 2023 with a presale hard cap goal of $7 million.

Posted Using InLeo Alpha