Digital Credit As A New Bitcoin Bid

Speaking on the Bitcoin Magazine Podcast on June 10, Cole described the latest Bitcoin selloff as a “classic” but relatively mild bear market.

“The fundamentals around Bitcoin have never been stronger,” Cole said, pointing to growing institutional adoption, ETF distribution through retirement accounts, improving regulation and the rise of digital credit products.

Cole expects Bitcoin could move back above $80,000 and potentially return to six figures later this year.

BTC-backed digital credit products represent a new source of capital entering the ecosystem as the demand for these instruments is not primarily coming from investors selling Bitcoin,…

Read more on Benzinga