Bitcoin's Soaring Surge: FOMO, YOLO, and the Rolex Recession

Bitcoin's surge to $44,000 is driven by anticipation of the approval of a Bitcoin ETF, which is expected to bring additional capital flows into the market. The recent ruling from the D.C. Circuit Court of Appeals regarding Grayscale's Bitcoin spot ETF application has sparked significant buying, as it could signal a "stamp of approval" for the asset class from the largest capital market regulator. The surge in Bitcoin's price is also fueled by anticipation of mass institutional and mainstream adoption in 2024, as channels are being opened up for easier access to Bitcoin exposure.