Bitcoin’s mainstream adoption continues to drive its evolution and global impact. Recently, Frank Holmes, Co-Founder and Executive Chairman of HIVE Digital Technologies, shared his insights on the transformative growth of bitcoin, the rise of exchange-traded funds (ETFs), and the role of miners in a rapidly changing financial landscape.
Holmes began by discussing his initial attempts to launch a bitcoin ETF in 2017. He attributed the failure to regulatory concerns over Know Your Customer and Anti-Money Laundering requirements, which didn’t apply to mining operations. This led him to invest in Canada’s first crypto mining company, demonstrating his adaptability in the industry.
Comparing the current market shift to the gold market, Holmes noted that a similar divide may emerge between established companies and those focused on growth through bitcoin ETFs. He observed that global trends, particularly in countries like Argentina and Venezuela, are driving demand for U.S. dollars and bitcoin, creating a unique crossover between traditional currency and digital assets.
Holmes emphasized the importance of these global dynamics, highlighting the strategic role of miners in navigating complexities within a digital asset-driven financial system. The resilience of bitcoin miners positions them to drive future adoption, with Holmes predicting significant growth in the global demand for bitcoin.
Source: https://finance.yahoo.com/news/bitcoin-miners-lead-way-bridging-165939539.html