- Larry Fink, BlackRock’s CEO, conveys a bullish perspective on Bitcoin, equating its future value with human freedom, a statement that adds momentum to the cryptocurrency’s price.
- The optimistic outlook coincides with progress in discussions regarding Bitcoin ETF approvals, and has notably influenced BTC’s price, driving it towards the $31,000 mark.
As the CEO of BlackRock, the largest asset management firm globally, Larry Fink has articulated a bullish perspective on Bitcoin (BTC), drawing an unprecedented parallel between the cryptocurrency’s future value and the essence of human freedom. This commentary comes in a time when BlackRock is actively engaging with cryptocurrency, having recently submitted an application for a spot Bitcoin Exchange Traded Fund (ETF) with the U.S. Securities and Exchange Commission (SEC) in June.
Bitcoin’s Value and Human Freedom: A Unique Parallel
Engaging in a dialogue with value investor and Bitcoin proponent Mike Alfred, Fink was questioned about his foresight on Bitcoin’s potential worth. His response,
“What is the value of human freedom?”,
encapsulates his bullish stance and deep belief in Bitcoin‘s future significance.
This viewpoint aligns with recent developments where the SEC has initiated constructive dialogues with issuers of Bitcoin ETFs, deliberating on various facets crucial for possible approvals. Analysts from Bloomberg, Eric Balchunas and Seyffart, have subsequently adjusted the odds of a spot Bitcoin ETF receiving approval to an encouraging 90%.
Influential figures in the financial and crypto domains, including Mike Novogratz and Cathie Wood, along with a report from JPMorgan, project the likelihood of a Bitcoin ETF receiving a green light from the SEC this year, a scenario that has infused the global crypto market with bullish sentiments.
Bitcoin’s Price: A Surge to $31,000
Mirroring these positive market sentiments, Bitcoin has exhibited a price rally, navigating close to the $31,000 threshold. Market participants are expressing confidence in the continuation of this trend, as technical patterns and indicators are currently leaning towards further upward movements.
Over the last 24 hours, BTC’s price has experienced a near 2% increase, accumulating over 10% in gains within the week, and is presently valued at around $30,700. The recorded 24-hour low and high are $29,720 and $30,951, respectively. Additionally, trading volumes have seen a 20% boost within the last 24 hours, further exemplifying the prevailing upbeat market conditions.