Bitcoin DeFi Applications Attracting Interest Of Institutional Investors
Bitcoin has been experiencing very fast growth and development. And until recently, Bitcoin was basically a network, where customers make transaction payments. However, presently the activities seen on the Bitcoin network, are similar to that of the Ethereum network.
And this is due to the advancement of Bitcoin network, to begin adding decentralized applications (DAPPs). The launching of BRC-20, and the Bitcoin Runes, are the reason for this evolution of the Bitcoin network. And, all this started during the period of the recent Bitcoin halving event.
One of the members of Trust Machines team, Shah Rena, who has been concentrated and involved in the expansion of Bitcoin as an economy, mentioned that; a few years ago, it wasn't predicted that Bitcoin will develop into a Decentralized Finance (DeFi) ecosystem.
Rena emphasized that the development of lending protocols, and staking programmes on the Bitcoin network, has been attracting to institutional investors; who are interested in Bitcoin evolving into a source of value, and not simply a store of value.