Michael Shaulov, CEO of FireblocksHQ believes it's still retail investors that will drive surges in Bitcoin's price, rather than institutional investors.
While an approved BlackRock spot Bitcoin exchange-traded fund will funnel new institutional money to Bitcoin, it's going to be the retail investors that ultimately drive any significant price surges, according to Michael Shaulov, the CEO and co-founder of institutional custody platform Fireblocks.ETF, leading to other financial firms filing their own, along with Bitcoin's price reaching its highest levels in a year.
"When institutions come in to participate in the market and they're doing it in a quiet way, they're able to do it almost without moving the price," Shaulov told Cointelegraph during the Australian Blockchain Week.
That being said, Shaulov noted that the “physics of Bitcoin” — mainly its finite supply — means that any mass buy-up of Bitcoin should end up moving the needle.
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