Alphabet’s Google planned to allow advertisement of Bitcoin spot ETF products on its ad network.
Google Ads or Google Display Network (GDN) is a group of more than 2 million websites, videos, and apps where your Google Ads can appear. This internet giant is known for better advertisement policy & environment over any other agency. In 2018, Google banned all kinds of crypto-related advertisements because many bad actors were promoting their ponzi crypto investment schemes, & fake ICO projects. But two years ago, Google started to allow filtered & specific crypto advertisements e.g. Crypto trade platforms, and crypto mining hardware.
In the latest, Google Ads decided to allow Bitcoin spot ETF products advertisement on its network from 29 Jan 2024, which means 2 days later we will see advertisements of Bitcoin spot ETF products on YouTube ads, Google ads monetized websites, etc.
Reportedly top fund manager BlackRock is going to hold a meeting with top investors to educate them about Bitcoin & opportunities with Bitcoin investment via Bitcoin spot ETF products.
These products received approval from the United States Securities and Exchange Commission (SEC) on 10 Jan and within two days surpassed the market cap of Silver ETF.
Now here we can expect that the Bitcoin spot ETF market cap will surpass the Gold ETF within a few years or maybe in this year.
It is worth it to note that the Bitcoin market is currently in the initial phase of a bull run and here the advertisement of such bitcoin-backed products will help to cause more inflow of money in the Bitcoin market. So this news is going to play a vital role in pushing the bull run to the next level.
Just a day ago, Michael Saylor, the co-founder & former CEO of Microstrategy, a business intelligence Nasdaq listed firm which holds a huge amount of Bitcoin, shared his prediction on the Bitcoin trade price and said that it may hit $350k this year.
Read also: American government plans to sell approx 3,000 Bitcoin amid this Bitcoin bull phase