Bitcoin Price Forecast: BlackRock Labels Bitcoin ETF a ‘Unique Diversifier’ – Could This Fuel a BTC Price Surge?
Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...
Bitcoin is gaining traction as BlackRock’s recent white paper hails the cryptocurrency as a unique hedge against monetary and geopolitical risks.
This endorsement, coupled with growing institutional interest, has driven Bitcoin’s price toward $63,468, reinforcing its status as a safe-haven asset.
With potential resistance levels at $65,000 and $66,500, traders are eyeing further upward momentum, supported by BlackRock’s recognition and strong market fundamentals.
On September 18, 2024, BlackRock released a white paper highlighting Bitcoin as a hedge against monetary and geopolitical risks.
The paper described Bitcoin as the world’s first “open-access monetary system,” praising its immunity to counterparty risks, banking crises, sovereign debt issues, and currency devaluations. This endorsement emphasized Bitcoin’s role as a standalone asset during global turbulence.
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