BlackRock buying $1.5 billion in Bitcoin in just two days for its ETF is a real turning point for the crypto world! I think it shows that institutional investors are really starting to believe in Bitcoin as a serious asset. You could even say that it could encourage other big companies to do the same, which could increase demand and, consequently, the price of Bitcoin. In addition, with a Bitcoin ETF, it makes investing more accessible for those who don't want to complicate their lives with the direct purchase of crypto. Personally, I found it to be a good opportunity, even if the market can sometimes be unpredictable.
What do you think?
Do you think other companies will follow suit?
Actually I'm amaze with the action they do since this shows that they really have huge confidence that bitcoin would perform more better in future.
But what's really bothering there is if they accumulate a lot more volume then there's really huge chance that in future also they could able to manipulate the price of bitcoin since their company might have more bigger holdings compare to other institutions. So hopefully we see positive things to happen more for bitcoin since if Blackrock will start to dump their bitcoin then maybe this will create a huge damage on the market.