Bitcoin is the “Godzilla of Finance,” Messari Says in Latest Report

Godfrey Benjamin
January 3, 2024
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Bitcoin

Messari, a prominent player in cryptocurrency research, has unleashed a striking metaphor in its latest report, boldly proclaiming that Bitcoin (BTC) is “the Godzilla of Finance.” This vivid analogy underscores the profound and disruptive nature of Bitcoin in reshaping traditional notions of money and investment.

Just like the iconic monster Godzilla, Bitcoin has risen to towering heights, disrupting traditional financial norms. The decentralized nature of Bitcoin, operating outside the control of traditional financial institutions, contributes to its Godzilla-like analogy.

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Messari’s View on Bitcoin (BTC)

Notably, BTC’s resilience, akin to Godzilla’s ability to weather storms, is a key theme in the report. 

Despite facing regulatory challenges and skeptics, Bitcoin has consistently demonstrated its ability to bounce back and thrive. Despite the crypto winter, Bitcoin soared as high as 170% Year-on-Year (YoY) and is currently trading at $45,129. 

The decentralized blockchain technology that underpins Bitcoin ensures its independence from centralized control, adding to its robustness.

However, Messari’s report does not shy away from acknowledging the challenges that Bitcoin faces. Regulatory scrutiny, environmental concerns related to mining, and price volatility, are discussed as potential hurdles for the cryptocurrency. This balanced approach adds nuance to the metaphor, recognizing both the strengths and weaknesses of Bitcoin in its bid to disrupt mainstream finance.

As Bitcoin (BTC) continues to evolve, its Godzilla-like presence in finance is likely to endure, leaving an indelible mark on the future of money.

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Bitcoin ETF Approval to Open Door for Institutional Investments

The hype surrounding a potential spot Bitcoin Exchange Traded Fund (ETF) comes with a high probability of 90% per earlier reports. Should the US SEC greenlight this product, it is poised to revolutionize how institutional investors engage with cryptocurrency. Meanwhile, this regulatory breakthrough will pave the way for substantial U.S. corporate investment, enhancing market liquidity and altering the dynamics of cryptocurrency trading.

Simultaneously, introducing a spot BTC ETF is expected to compel crypto exchanges to reassess their fee structures and operational models, fostering a more competitive environment, as noted by Nate Geraci of ETF store and Eric Balchunas of Bloomberg.

However, several analysts have predicted that Bitcoin price will hit a new all-time high should this approval be secured. Bitcoin’s Stock-2-Flow (S2F) model creator PlanB took to X on January 1 to share his BTC price prediction for 2024.

He said the price of Bitcoin (BTC) would rise in response to the April 2024 Bitcoin halving, another inevitable network event that will serve as a complement to Bitcoin ETF approval. The halving will happen at block height 840,000 and is expected to happen on April 23 as per the Bitcoin halving countdown.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.