A famous asset management company, Bitwise released a new commercial on June 27, which highlights the increasing use of blockchain technology and the changing perception of cryptocurrency assets among representatives of the financial industry.
In the ad, Bitwise portrays two characters: a millennial, a person more familiar with cryptocurrencies, and a traditional investor. The latter transforms into a pro-blockchain shirt, which represents the shift in the financial industry’s attitude towards cryptocurrencies.
This shift occurs as Bitcoin has been soaring to record high levels in recent years. This mainstream adoption has been driven by the recent increase in Bitcoin’s price to above $73,000 earlier this year before a slight pullback.
Bitwise also points out how people of different age groups are investing in Bitcoin due to investment opportunities even if they have little knowledge about blockchain technology.
Furthermore, the performance and expectation of Bitcoin ETFs have also attracted institutional investors to the crypto market. Other providers of crypto ETFs such as Bitwise have made it easier for traditional firms to get involved in the crypto space hence increasing institutional activity and changing their perception towards cryptocurrencies.
More firms revealed their ETF holdings in recent times, which indicates further institutional adoption. Furthermore, crypto has emerged as an issue in political spheres, as American legislators reconsider their stance on the legal status of cryptocurrencies.
This brief document summarizes the main points of the ad campaign by Bitwise, highlighting major trends in the use of blockchain technology and Bitcoin’s market characteristics.
