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42 BUSINESS & FINANCE AWEMainta Diabierna, 3 November 2023
BlackRock ETF Approval Expected to
Skyrocket Bitcoin’s Value, Experts Predict
AFTER the potential approval of a spot bitcoin exchange- economic settlements, and its role as a seizure-resistant
traded fund (ETF) by financial giant BlackRock, the cryp- asset. Additionally, Bitcoin’s status as digital gold is a signif-
tocurrency market is abuzz with anticipation of how this icant factor.
development could impact Bitcoin’s price. Investors, bitcoin
investment firms, and market analysts are all speculating Currently boasting a market capitalization of $677 billion,
about the potential consequences. Bitcoin’s value is expected to see substantial growth as
BlackRock and other institutions open the doors for increased
The looming question on everyone’s mind is, “What could be institutional access to the cryptocurrency. According to
the future value of Bitcoin post-BlackRock ETF approval?” Galaxy Digital, an influx of $14 billion into a BlackRock ETF
TheStreetCrypto’s Austin Arnold pointed out that this event could potentially drive up Bitcoin’s price by 75%, poten-
represents a significant turning point for the crypto space. tially reaching conservative estimates around $44,000 to
highs of $56,000.
To answer this question, experts are considering the various
sources of demand for Bitcoin investments, including institu- In summary, the potential approval of a BlackRock ETF is set
tional players like BlackRock, Fidelity, and Charles Schwab, to be a game-changer for Bitcoin, with experts and market
corporate treasuries such as MicroStrategy and Tesla, remit- data indicating a bullish trend and significant price appreci-
tance assets, state treasuries, emerging market currencies, ation in the cryptocurrency’s future.
