Mr. Jerayut Suprisopa, Founder and CEO of Bitkub Capital Group Holdings Company Limited, revealed to Thansitakij that 2024 will be the year when the Bitcoin halving phenomenon occurs, which is when the reward generated by Bitcoin mining will decrease every 4 years, halving every 210,000 blocks, each The block is created every 10 minutes
The expected date for the next Bitcoin halving is April 25, 2024 (subject to change), with the reward decreasing from 6.25 to 3.125 BTC.
“This phenomenon will stimulate the price of Bitcoin to rise significantly. It can be seen that the market is starting to wake up from the price of Bitcoin, which has begun to rise during this period. In addition, next year is about to enter a downward trend in interest rates.
Via web trading Petcup We are already prepared to handle the halving next year. This is based on the lessons learned from previous phenomena. The exchange is confident that there will be more people interested in registering with the Bitcoin Exchange system than there were 4 years ago. Currently, Bitkub has more than 800 employees and the system supports tens of thousands of new customers daily.
“In the last half, we only had 200 employees, but we had to KYC over 40,000 Bitkub wallet applicants a day. The system wasn’t ready, and in the end it crashed and had to shut down the system for 5 days, and people all over the country complained. But we did. “We were able to capitalize on the growth.”
As for Bitkub Capital Group Holdings’ next plan, it is to file a registration statement (filing) for the company to accompany an application for permission to offer common stock to the general public, or an IPO, to the Securities and Exchange Commission. Or the SEC expects it will take approximately one to two years from now for it to be completed and open for stock trading.
“Now all our criteria have been met.” Only the criteria of profit and registered capital remain. Next year, Bitkub will focus on halving first and then move on to the next step of each project. “
Currently, Bitkub has expanded into several business areas, with Bitcoin Exchange being just one of the subsidiaries of Bitkub Capital Group Holdings that engages in the business of buying and selling cryptocurrencies. Others include Blockchain Business, Metaverse, AI, Academy, and Venture Capital.
After the halving next year, it is believed that Bitkub will have enough funds to begin implementing its plan to enter the international market using the Bitcoin exchange as a pilot, and begin entering countries with market potential. There have been legal developments regarding cryptocurrencies. Start with one area at a time
The European zone will start with Gibraltar, an overseas territory of the United Kingdom, and will use the same laws. Including Luxembourg There has been a significant amount of progress in cryptocurrency legislation, which Bitkub will use as a gateway to Europe.
The East Asia region will start with Hong Kong as a gateway to the Chinese market. It is expected that there will be a significant influx of capital in the coming year. Moreover, Hong Kong is about to enact cryptocurrency laws, while the Chinese market cannot be entered. Because this is still prohibited. China is expected to launch its own digital assets.
The ASEAN region is currently studying law, and it is expected to start with “Cambodia and Vietnam” because there are no competitors yet. It may take some time to understand each country. Let the relevant laws be passed first.
“Currently, we are the largest exchange in the Association of Southeast Asian Nations (ASEAN). Recently, the Securities and Exchange Commission (SEC), Vietnam and the Bank of the Lao People’s Democratic Republic sent officials to study the information and visit the Bitkub office this year, which is a sign that this should have States should make some progress in this regard.
source: Thansitakij
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