Tether Advisor: Bitcoin spot ETF could create trillions of dollars in value if passed

Tether consultant Gabor Gurbacs posted on the X platform that the approval of the U.S. spot Bitcoin ETF could create trillions of dollars in value. On November 18, 2004, the SPDR (State Street) Gold ETF (GLD) was launched. Over the next eight years, the market value of gold increased from approximately US$2 trillion to approximately US$10 trillion. Today, the market value of Bitcoin is approximately 750 billion US dollars, less than 1/3 of the market value of gold in 2004. It seems to me that once a U.S. spot Bitcoin ETF is approved, Bitcoin's price trajectory could more quickly re-follow the path of gold in 2004 and subsequent years. I also believe that the adoption of Bitcoin ETP will only bring tens of billions of dollars, but not all at once. But given Bitcoin’s relatively low circulation and the systemic scarcity brought about by the halving schedule, the (BTC price) improvement will be significant.