BEFORE YOU PRESS PLAY
What is discussed
AskMonty AI editorial noteSource consulted:
On 30 August 2023, Montemagno makes a strongly positive prediction about Bitcoin, connecting it to three expected developments: US spot ETFs, institutional demand relative to available supply and banks entering purchase and custody services. He cites Grayscale and BlackRock as signs of financial-sector interest. He states that he is not offering investment advice and proposes revisiting the forecast two years later, acknowledging that he could be wrong. The content documents his thesis at that time, not proof of future returns or a description of current conditions.
Key points
- Custody and rules are described as practical obstacles to institutional investment.
- Spot ETFs are discussed as a possibility still awaiting approval at that point.
- Montemagno interprets Bitcoin primarily as a scarce digital asset.
- Potential bank involvement also raises a question about control of custody.
