2024-01-03 16:57:00
Title: Bitcoin Celebrates 15th Genesis Day as Experts Predict Ongoing Success
Today marks the 15th GENESIS Day for Bitcoin, the first decentralized currency, and the crypto community in Israel and around the world is celebrating the milestone. It was 15 years ago, on January 3, 2008, when the first block in the Bitcoin block chain was created by Satoshi Nakamoto, the anonymous creator of the coin. Since then, Bitcoin has remained at the top of the list of most popular cryptos, with thousands of digital currencies launched in its wake.
This week, Bitcoin hit a 22-month record when its value reached over 45 thousand dollars (approximately NIS 164 thousand). This surge comes in preparation for the expected approval next week, on January 10th, of a hedge fund that tracks Bitcoin and is set to invest directly in the currency, potentially boosting its value.
Experts and businessmen in the field are optimistic about the future of Bitcoin. Eldad Rodrigue, VP of Product at digital currency company Bits of Gold, noted the enthusiasm in the crypto industry and the increasing demand for crypto investment. He also mentioned the potential impact of the US presidential race on the crypto market, pointing to Republican candidate Vivek Ramaswamy’s plan to integrate crypto and digital assets into the US economy.
Nir Hirschman, CEO of the Crypto, Blockchain, and Web3 Companies Forum, highlighted the expected approval of the Bitcoin tracking fund and predicted a significant increase in demand for Bitcoin in investment portfolios.
Ben Samuha, CEO and founder of CryptoJungle, is confident about the decision to approve the Bitcoin tracking fund and foresees opportunity for Israeli investment. He mentioned that while international brokers are expected to enter the field immediately, local brokers in Israel may take a bit longer to offer investment options in Bitcoin.
Looking ahead to 2024, Naa Mashiach, CEO of the Israeli Bitcoin Association, discussed the “crossing the block” event, which is expected to cause a decrease in the supply of newly issued coins, potentially leading to a price increase for Bitcoin.
When asked about the future of Bitcoin, Rodrigue emphasized the development of digital currencies and their impact on various aspects of life, indicating that more and more uses and possibilities for crypto are expected in 2024.
Concerning regulation in Israel, Mashiach emphasized the need for clearer regulations and improved accessibility for crypto companies to work with financial entities such as banks. Hirschman also underscored the importance of addressing challenges in the field and creating a conducive environment for the industry to thrive in Israel.
Discussing the misuse of crypto for illicit activities, including terrorism and money laundering, Rodrigue emphasized the importance of cooperation between the crypto industry and regulators to mitigate these risks. Mashiach provided insights into the transparency of digital currencies and their limited use in financing terrorism compared to traditional methods. Hirschman added that Israeli expertise in cyber and blockchain can contribute to addressing illegal activities in the crypto space.
Samuha concluded with optimism about the Bitcoin industry, citing its growing user base and market value, and highlighting the increasing purchasing power of Bitcoin over time.
As Bitcoin enters its 15th year, the celebrations reflect a community united in its belief in the currency’s future success and the positive impact it can have in the years to come.
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