Bitcoin has soared into 2024, but a serious warning from the Federal Reserve has raised fears of an impending crash.
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Bitcoin prices exceeded $100,000 per Bitcoin on the back of Donald Trump’s victory in the US presidential election, and the cryptocurrency’s popularity rose as Wall Street adopted a spot Bitcoin exchange-traded fund (ETF). It is called a “turning point”.
Now BlackRock confirms worrying Bitcoin price bombshell, new Bitcoin ETF filing revealed, predicting ‘major’ move in Bitcoin price in just a few weeks .
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Incoming US President Donald Trump’s favorable attitude towards Bitcoin and virtual currencies is … (+)
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“Given the price movements to date, if it is true that many market makers are exposed to Bitcoin, we are only weeks away from the next big move,” said Bitcoin and crypto investor Mike Alfred. He spoke on the X broadcast. With podcaster Scott Melker, he pointed out Friday’s biggest Bitcoin option expiration in history.
Bitcoin adoption on Wall Street this year is being led by BlackRock, the world’s largest asset manager, following a successful campaign to bring a Bitcoin ETF to the US last year. He made his debut.
The U.S. Spot Bitcoin ETF surpassed $100 billion in net assets for the first time in November, and BlackRock’s iShares Bitcoin Trust (IBIT) now has around $60 billion in assets, according to data from Bloomberg Intelligence. It is one of the fastest growing ETFs of all time. .
This week, two new ETFs designed to address the growing trend of companies adopting Bitcoin Treasuries were filed with the Securities and Exchange Commission (SEC).
The Bitwise Bitcoin Standard Corporations ETF invests in companies that have “adopted the ‘Bitcoin Standard,'” defined as holding 1,000 or more Bitcoins and meeting certain size and liquidity requirements.
“In 2025, we will see an explosion of interest in index space strategies that offer diversified exposure to cryptocurrencies,” Bitwise Chief Investment Officer Matt Hogan told Bloomberg this week.
“Of course,[that is]what we have been doing at Bitwise since 2017, when we pioneered that concept. By 2025, it will become a mainstream way of allocating to this space, just like it is for stocks and bonds. I think it will be.” Real estate and other things. ”
Meanwhile, Strive, an asset management company co-founded by Vivek Ramaswamy, who heads the Trump administration’s Government Efficiency Directorate along with Elon Musk, aims to “provide exposure to convertible bonds issued by MicroStrategy.” has applied to create the Strive Bitcoin Bond ETF. or other corporate debt securities in which Strive … expects to invest all or a substantial portion of its proceeds in the purchase of Bitcoin (collectively, “Bitcoin”).
“Bitcoin treasury virus is spreading,” Nate Geraci, president of ETF Store, posted on X.
Founded as a software company during the pre-dot-com bubble Internet boom, MicroStrategy has morphed into what co-founder and chairman Michael Saylor calls a “Bitcoin vault,” using stock market darling Nvidia to fund Bitcoin purchases. exceeded that of others. Sales of convertible bonds and shares in the market.
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Bitcoin prices have soared this year, and many cryptocurrency market watchers predict a potential crash in 2025. … (+)
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MicroStrategy has ridden the Bitcoin price boom to an all-time high valuation as traders use the company’s stock as a proxy for Bitcoin, far outstripping Bitcoin itself and currently valued at about $440 million, worth about $42 billion. Holds 4,000 Bitcoins.
“This institutional implementation will have a significant impact on stabilizing the market amid a broad decline,” Maksim Sakharov, co-founder of decentralized finance platform WeFi, said in emailed comments.
“Next year, when US President-elect Donald Trump takes office, more companies will enter the Bitcoin ecosystem due to favorable regulations. The basis of this favorable policy regarding Bitcoin and the crypto industry is Enabled legislation is already in place, including the establishment of a national strategic Bitcoin reserve and the appointment of a pro-crypto US SEC chairman and crypto czar. It could be an attractive addition to your home. ”
