Wall Street Giant BlackRock Quietly Eyes $90 Trillion Bitcoin Bonanza
Bitcoin has skyrocketed to over $70,000 per coin this week, marking a phenomenal 350% increase from its recent low of $15,000. The surge in price is attributed to Wall Street behemoth BlackRock, which is reportedly eyeing a massive $90 trillion windfall from Bitcoin. Speculation is rife about a ‘secret sovereign bitcoin bid’ that could further boost the cryptocurrency’s value.
JPMorgan CEO Jamie Dimon’s Bitcoin U-Turn
In a surprising turn of events, JPMorgan’s CEO Jamie Dimon, a long-time critic of Bitcoin, has reversed his stance. Dimon, who once called for Bitcoin to be ‘closed down,’ now defends people’s right to buy the cryptocurrency. However, he clarified that he personally has no intention of investing in Bitcoin. Despite his previous harsh criticisms, Dimon has led JPMorgan in developing its own blockchain technology inspired by Bitcoin.
Cathie Wood’s Bullish Bitcoin Prediction
The recent surge in Bitcoin’s price, fueled by the approval of multiple Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC), has led to even more bullish predictions. Ark Invest’s CEO Cathie Wood has brought forward her forecast of Bitcoin reaching $1 million by 2030. Wood expressed confidence in Bitcoin’s future, stating that institutional involvement will further drive up the price.
The Future of Bitcoin
With major financial players like BlackRock and JPMorgan showing interest in Bitcoin, and regulatory bodies like the SEC approving Bitcoin-related financial products, the future looks bright for the cryptocurrency. Despite ongoing debates about its legitimacy and utility, Bitcoin continues to make headlines and attract both supporters and skeptics alike.
