What does the first gold ETF tell us about the potential price of Bitcoin?

What does the first gold ETF tell us about the potential price of Bitcoin?
The first gold ETF was the SPDR Gold Trust ETF. The NYSE listed it in 2004. This was important because it provided an inexpensive way to invest in gold without owning physical gold or purchasing gold futures. Gold ETFs were a significant factor in allowing global institutional funds to invest in the precious metal.
Gold has never bottomed out to the 2004 levels since then. The market value of gold was $1 trillion in 2004 but is now worth $11 trillion.
On June 16, 2023, BlackRock announced its intentions for a Bitcoin ETF.
Currently, many people invest in MicroStrategy, ticket MSTR, to get exposure to Bitcoin. Some of the top owners of MicroStrategy include Vanguard with about 8.5% of MicroStrategy, Fidelity with 6.8%, and BlackRock with 5.6%.
I believe that we are headed towards more mainstream adoption of Bitcoin. Baby boomers will grow increasingly more comfortable with the concept of Bitcoin investing, and may see it as a store of value. The older generation lack the confidence and knowledge to purchase Bitcoin from exchanges like Coinbase. I think there are a lot of people that probably still call up their broker instead of using the online brokerage services. This older generation has a lot of money that can be put to work, and if Bitcoin sees even a portion of it, it could cause the price to increase dramatically.
Tags:
bitcoin, bitcoin etf, blackrock bitcoin etf, blackrock bitcoin, bitcoin news, blackrock, bitcoin price, bitcoin today, blackrock etf, etf bitcoin, bitcoin news today, bitcoin spot etf, bitcoin crash, buy bitcoin, blackrock etf bitcoin, etf bitcoin blackrock, bitcoin pump, blackrock btc etf, bitcoin analysis, bitcoin prediction, altcoin, blackrock coinbase, bitcoin price prediction, bitcoin dump, bitcoin live, bitcoin trading, sec bitcoin etf, bitcoin blackrock