Summary
TLDR: Franklin Templeton, a major financial services company managing $1.5 trillion in assets, believes Bitcoin is experiencing a renaissance in innovation driven by ordinals and other new developments. They see Bitcoin-based NFTs like NodeMonkes and Runestone surpassing Ethereum NFTs, providing evidence of Bitcoin’s advantages. The firm’s bullish perspective reflects a broader institutional warming towards Bitcoin and its capabilities.
Key Points
1. Franklin Templeton, a major financial services company managing $1.5 trillion in assets, believes Bitcoin is experiencing a “renaissance” in innovation driven by ordinals and other new developments on the Bitcoin network.
2. The firm has been an early adopter of Bitcoin, filing for a BTC ETF and launching its Franklin Bitcoin ETF (EZBC) in January. In a recent report, Franklin Templeton’s Digital Assets division highlighted the rise of Bitcoin-based NFTs called Ordinals, new fungible tokens, and layer 2 protocols as driving positive momentum in Bitcoin innovation.
3. The report also mentions that Bitcoin’s security, decentralization, and large user base give it an edge for mainstream adoption. Beyond NFTs, technical standards like BRC-20 and Runes are expanding Bitcoin’s functionality, and developments in layer 2 scaling are kickstarting a new growth and maturity phase for the cryptocurrency.