Tether CEO predicts more funds will increase their Bitcoin holdings

ChainCatcher news, according to The Block, Tether CEO Paolo Ardoino predicts that Bitcoin will increasingly integrate into traditional finance, with growing interest in the world's first cryptocurrency, including interest from hedge funds, pension funds, and corporations.

Ardoino, who is also the Chief Technology Officer of Bitfinex, spoke alongside Blockstream CEO Adam Back at an online event hosted by the trading platform on Tuesday. During the live broadcast, Ardoino stated that as the U.S. approves spot Bitcoin ETFs, more fund managers are expected to be interested in incorporating Bitcoin into their portfolios. He also mentioned that fund managers are increasingly interested in raising the proportion of Bitcoin in their portfolios to five percent.