Mr. Brondor
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BTC ETF APPROVED? BLACKROCK & BTC to 34k

BTC ETF APPROVED? BLACKROCK & BTC to 34k

Mr Brondor
October 25, 2023

BlackRock, one of the largest funds, is making a significant move into the world of crypto.

They're buying a lot of BITCOIN because they're getting ready to start something called a Bitcoin ETF in October.

This is a big deal, and it has a real impact on digital money.

In this article, I’ll try to explain in short and simple what BlackRock is doing, how it connects to the ETF, and why there's suddenly a lot of money flowing into Bitcoin & crypto in general

The Bitcoin Power Move: BlackRock investing in BTC is a major deal. They're collecting Bitcoin, and it's not just for fun. This move is all about preparing for the Bitcoin ETF launch.

Why BlackRock's Bitcoin Purchase Matters: BlackRock's move is like a big "thumbs up" for the digital money world.

Here's why it's important:

Building Confidence: When big companies like BlackRock invest in Bitcoin, it tells everyone that digital money is the real thing. Other big investors might start doing the same.

ETF Coming Soon: BlackRock is getting ready for the ETF launch, which means it's happening soon. This is a game-changer for people who is into digital assets.

Bitcoin's Future: BlackRock's Bitcoin purchase shows they have believed in it for a long time. When the ETF starts, BlackRock's Bitcoin stash becomes even more important.

The Money Rush and Bitcoin's Price Jump:

In just one day, more than $43 million from public funds entered BTC

The result was quick - Bitcoin's price went up to over $34,000.

This tells us that they have huge interests over this world and believe it can be profitable in the long haul.

Conclusion:

BlackRock's move into Bitcoin and the sudden flow of money tell us a lot about digital Assets.

BlackRock is taking this seriously.

Hope you've enjoyed the content, Tribe!

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