Next July 1 will become a law in Germany that will allow, to more than 4,000 investment funds, operate with Bitcoin and other cryptocurrencies.
Last week, the German Federal Parliament approved the legislation in question, which indicates that the most popular institutional investment fund managers, known as Spezialfonds, may assign 20% of capital in cryptocurrencies.
According to Decrypt, the new legislation has been considered an important impulse to position Germany as a financial investment center, and will strengthen the legitimacy of cryptocurrencies and other digital assets.
In this regard, Sven Hildebrandt, the CEO of Distributed Ledger Consulting (DLC), estimated that around 422,000 million dollars could enter the cryptocurrencies market from Spezialfonds, amount equivalent to approximately 42% of Bitcoin's market capitalization, Which is a little more than a trillion dollars, according to Coingecko. "This will not happen overnight, but we are talking about the biggest investment vehicle we have in Germany"
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