"From SWIFT to Sovereign Wealth Funds"...Bitcoin (BTC) Kicks Off Surge to $500,000

▲ Bitcoin (BTC)

It is observed that the inflow of institutional funds will accelerate as SWIFT (Society for Worldwide Interbank Financial Telecommunication), which connects financial networks in over 200 countries worldwide, fully supports virtual assets and tokenized asset transactions, and the U.S. Securities and Exchange Commission (SEC) opens its doors to on-chain innovation.

Altcoin Daily, a cryptocurrency-focused YouTube channel, analyzed in a video uploaded on September 30 (local time) that as the boundaries between traditional finance and decentralized finance (DeFi) collapse, regulatory clarity and the allocation of funds by sovereign wealth funds are intertwined, fueling the market's mid-to long-term upward momentum. SWIFT announced that, in line with the U.S. Securities and Exchange Commission's policy, it would build a system to globally transfer fiat currencies and tokenized assets across more than 40,000 payment channels in over 200 countries.

U.S. regulators have also shifted their policy stance to support on-chain transactions. Paul Atkins, former Commissioner of the Securities and Exchange Commission, appeared on CNBC and stated, “Virtual assets are a topic that resonates deeply with me, and moving assets on-chain is a very exciting prospect.” Atkins explained that they are clarifying the definition of tokenized securities and other tokenized assets through joint interpretive guidance with the Commodity Futures Trading Commission (CFTC), and are pursuing an innovation exemption system in the form of a regulatory sandbox for on-chain fundraising and transactions, regardless of whether the U.S. cryptocurrency market structure bill passes Congress.

A bullish outlook for Ethereum (ETH) from a Wall Street veteran was also revealed. A 10-year Wall Street veteran and founder of Etherealize claimed that in an environment where all new assets are tokenized on public blockchains, combining zero-knowledge proof (ZK) technology could allow Ethereum's value to surpass Bitcoin (BTC). He predicted that Ethereum, as a productive currency that generates income rather than merely being an asset, would command a higher market value in the long term.

The movement of global sovereign wealth funds and large funds incorporating Bitcoin is also becoming visible. The Head of Research at Bitwise stated that discussions with several sovereign wealth funds worldwide confirmed that some are indeed selling off gold and foreign exchange reserves to prepare for currency devaluation and raise funds to buy Bitcoin. Rick Edelman, a prominent U.S. investor leading a $300 billion fund, claimed, "Even if only 1% of global assets are allocated to Bitcoin, the price of Bitcoin could reach $500,000 by 2030," and "to overcome the limitations of the traditional 60/40 asset allocation model, Bitcoin should be incorporated into portfolios ranging from 10% to up to 40%."

[Article Summary]

-SWIFT announced full support for virtual asset and tokenized asset transactions through its payment network in over 200 countries.

-U.S. regulatory authorities are lowering institutional entry barriers by promoting on-chain fundraising and innovation exemptions.

-As sovereign wealth funds sell gold to buy Bitcoin, a forecast of $500,000 by 2030 and an increase in allocation have been suggested.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*