Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Cryptocurrency analyst, Saxo Bank
Summary: As efforts to get a Bitcoin EFT approved continue, Bitwise has undertaken a thorough analysis and discovered that the real market for Bitcoin is smaller, more efficient and more regulated than commonly presented.
This means out of a reported $6bn in trade volume only 4.5%, or $273m, of it is real economic activity. Although BTC’s given market cap of $70bn and has a volume of $273m, its daily turnover is still comparable to gold.
The list above is far from exhaustive, with Swiss Crypto Vault, Vontobel, Börse Stuttgart, IBM, JP Morgan, Goldman Sachs are all offering or looking to offer solutions to their clients.