Institutions Likely To Show Interest in Bitcoin DeFi Applications
Bitcoin ( BTC ) is rapidly evolving. While the Bitcoin network has primarily been used for payment transactions, current activity appears to be resembling that of Ethereum during the height of decentralized application (Dapp) projects.
The introduction of Bitcoin Runes and BRC-20 tokens – which emerged during the time of the fourth Bitcoin halving event – h as likely sparked the evolution of Bitcoin-native decentralized finance (DeFi).
Rena Shah, VP of Products at Trust Machines – a team focused on growing the Bitcoin economy – told Cryptonews that two years ago, Bitcoin DeFi wasn’t a narrative the ecosystem was discussing.
Yet Shah noted that the emergence of staking platforms and lending protocols across the Bitcoin network has created interest among investors in transitioning assets from a store of value to a source of value.
Growth in the Bitcoin DeFi (BTCFI) ecosystem is staggering
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