Gianluigi Guida, CEO of Binance Italy
The CEO of Binance Italia: “Bitcoin up with the ETF. Ethereum too towards Sec approval. Boom in users in 2023 on our platform (+30%)”
The turning point, according to many, is epochal. With the approval of ETF spot sui Bitcoin from the Sec (the Consob American), the cryptocurrency market is now facing a potential leap in quality. The reason is simple: the approval made i Bitcoin purchasable through traditional finance channels and this, undoubtedly, has greatly expanded the number of investors, even those who are older.
In fact, many, perhaps discouraged by the idea of using an “unknown” technology, do not buy the digital asset not for fear of losing money, but for the inability to carry out the operation itself. Therefore, if more people buy Bitcoin because they are more comfortable doing so (and consequently more interested), the price of the digital currency can only rise.
But what will happen, then, to the entire crypto universe after the approval of the Etf in the United States? To try to make predictions, Affaritaliani.it he asked Gianluigi GuidaCEO of the Italian branch of Binancethe first cryptocurrency exchange platform in the world.
What does the approval of Bitcoin ETFs mean for the crypto market?
“The news represents a moment of maturity. It wasn’t an easy decision, on the contrary. Out of five voters, two were against. Although, looking back, one of the commissioners said they should have approved the whole thing some time ago. However, thanks to the approval from the Seci Bitcoin – but also other cryptocurrencies – can now enjoy greater credibility.
In fact, ETFs represent a real bridge between crypto market and that traditional, as they give those who are less accustomed the opportunity to approach and invest in the sector with a more understandable tool. But it’s not just an investment. ETFs can also help bring people closer to understanding the immense technology behind Bitcoin, which is often overlooked.”
Will prices go up? What should we expect?
“I believe the future will be positive. With them Etf The demand for Bitcoin has increased, so the price will also rise with it. It is the logic of all markets. In the last ten years we have seen what has happened, Bitcoin represents one of the most prolific financial assets there is.
Furthermore, the halving in April 2024 (a mechanism that reduces the quantity of extractable coins in order to make Bitcoin scarcely available and resistant to inflation, ed.), will certainly give liveliness to the fluctuations. Not only. The market is also anxiously awaiting the approval of Ethereum ETFs. Another factor that could positively impact the prices of the entire cryptocurrency market. 2023 was a good year, but I think 2024 will bring with it many surprises.”
Moving on to Binance Italy, what issues is the platform focusing on?
“Right now the company is focusing on two main issues. First of all, compliance, the main focus in anticipation of the new European regulation MiCA (already entered into force, in Italy there is still no implementation law). Then, certainly, on growth, trying to offer a series of products that are increasingly in line with the requests of our users”.
Speaking of growth, how did 2023 go for Binance?
“This year the group welcomed 38 million new usersup 30% over 2022, delivering consistent growth in key services and introducing new products and features designed for the next era of blockchain. At the end of 2023, Binance reached 170 million registered users and 431 assets available for trading on 1785 trading pairs”.
Subscribe to the newsletter