Putting aside the ETFs, the firm also highlights that BTC has managed to establish itself as a store of value, as pension funds, companies, and governments are beginning to incorporate it due to its similarities with gold.
"Although it was originally conceived as a peer-to-peer payment system, its volatility has limited its use for everyday transactions. Instead, it has evolved into a global non-sovereign store of value that is resistant to censorship, often referred to as 'digital gold,'" it is described in the report.
As CriptoNoticias has reported, for many investors BTC is 'digital gold' due to its similarities with the precious metal.
The supply of BTC is decentralized and resistant to censorship by governments or financial entities. Furthermore, its supply is limited to 21 million units, with its issuance halving every 4 years in an event known as halving.
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