Key Points
- The University of Wyoming announces the launch of a Bitcoin Research Institute.
- Bitcoin’s value surpasses $69k, reaching for $70k resistance, following the Bitcoin 2024 conference.
The Bitcoin 2024 conference has brought significant news to the cryptocurrency community, including several commitments that could greatly impact the sector. One of the most notable announcements is the launch of a Bitcoin Research Institute by the University of Wyoming.
Wyoming University’s Bitcoin Research Institute
The University of Wyoming’s Bitcoin Research Institute will be situated within the College of Arts and Sciences. The institute will focus on peer-reviewed academic research on Bitcoin, contributing to the curriculum’s economics, philosophy, and other courses.
Crypto analyst and researcher Andrew M Bailey expressed his excitement about his involvement in the new institute. He announced that he would be a Professor of Philosophy at the institute starting from August 2025. The institute will also feature crypto activist Dr. Bradley Rettler as the director and associate professor. The classes are set to commence this August for the 2024-2025 Academic year semester.
Implications for Bitcoin
The establishment of a Bitcoin research institute is a significant step for the crypto community and the recognition of Bitcoin as a legitimate financial entity. It will allow digital assets research to enter the traditional education system, thereby increasing awareness and adoption.
Market research indicates that many people remain indifferent to crypto due to a lack of awareness and information about digital assets. Therefore, education and research could provide a lifeline for Bitcoin and crypto, boosting adoption among various demographics. This development could potentially enhance Bitcoin’s prices, market capitalization, and future value.
The Bitcoin conference has had a positive impact on Bitcoin’s market performance. At the time of writing, Bitcoin was trading at $69,617 after a 3.19% daily surge. Its market cap also increased by 3.15% to $1.37T, according to CoinMarketCap.
Crypto analyst Michaël van de Poppe linked the conference to the current price action, suggesting that Donald Trump’s speech had a positive impact and that Bitcoin might be testing an all-time high in the coming weeks. This increase in prices indicates a shift in market sentiment, particularly as Bitcoin’s value had dropped below $60k in the past two months.
