Marc Taverner, CEO and co-founder of financial services provider XEROF, said that Bitcoin is less used in daily transactions (such as buying coffee), and it has become more and more popular as a means of exchange for other means; such as strategic investments in startups by funds, venture capital and angel investors. In addition, more and more startups are looking for providers to exchange Bitcoin for fiat currency to maintain their operations (such as paying wages and office rent).
Taverner pointed out that Bitcoin is gradually becoming a mainstream investment, but the influx of institutional investors may limit its use as a means of exchange. The large number of Bitcoin ETF purchases by large institutions such as BlackRock has led to a decrease in the circulating supply of Bitcoin and an increase in prices, further attracting investment. However, this has also hindered its development as a means of exchange. Large players may monopolize the market, thereby harming companies, founders and investors who still like to use Bitcoin as a means of exchange.
Taverner believes that regulation should support more financial products and diversify the use of Bitcoin to promote the healthy development of the market. (Blockworks)