Alex Thorn on Bitcoin's increasing integration into Wall Street and the corporate sector
Alex Thorn, the Head of Research at Galaxy Digital, recently spoke about Bitcoin's increasing integration into Wall Street and the corporate sector. Speaking at a conference focused on Bitcoin for Business, Thorn explained that Bitcoin is viewed in two main ways: as a treasury asset and as a technological tool.
He noted that the specific use of Bitcoin varies by region, highlighting how it acts as a store of value in economies with depreciating currencies, while in areas like Bitcoin Beach in El Salvador it is more commonly used as a medium of exchange.
Using Bitcoin technology for global money transfers
Thorn pointed to the potential for businesses to use Bitcoin technology for efficient global money transfers, mentioning platforms such as LightSpark, OpenNode and Voltage that enable the use of Bitcoin's Lightning Network for payments.
Acceptance of Bitcoin on Wall Street
Regarding Bitcoin's acceptance on Wall Street, Thorn emphasized that the launch of spot Bitcoin exchange-traded funds (ETFs) has normalized Bitcoin as an investment.
These ETFs, along with long-standing institutional platforms, make it easier for both individual and institutional investors to access Bitcoin.
Positive factors for the attractiveness of Bitcoin
Thorn also commented on macroeconomic factors that increase Bitcoin's appeal, such as increasing awareness of the unsustainability of U.S. national debt.
In addition, Bitcoin's recognition as a potential hedge against economic uncertainty has attracted interest from long-term investment entities such as endowments and pension funds.
Generational dynamics and adoption of Bitcoin
Thorn also highlighted the generational dynamics that influence Bitcoin adoption, with younger people more inclined to embrace new technologies like Bitcoin.
These ETFs could play a critical role in making Bitcoin accessible on wealth management platforms, helping financial advisors integrate it into broader investment portfolios and thus encourage wider adoption across different age groups.
Outlook on the future of Bitcoin
Finally, Thorn's insights highlighted the expanding role of Bitcoin, whether as an asset, tool or hedge, and predicted an upward trajectory in corporate and individual investor involvement due to generational shifts and the increasing proliferation of user-friendly investment vehicles such as spot ETFs.
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