October 17th is not an ordinary day; it’s a day that could change the cryptocurrency world. The U.S. SEC will make a significant decision on Spot Bitcoin ETF applications, and BlackRock’s proposal is at the center of attention.
Seen a lot of people saying that a spot #Bitcoin ETF won't move the price up.
The absolute scenes when BlackRock starts pushing #Bitcoin as the solution to the global sovereign debt crisis, wealth inequality, and climate change.
I think most of us are sleeping on the size of… pic.twitter.com/T4dbhCzSkI
— Stack Hodler (@stackhodler) September 5, 2023
BlackRock and Bitcoin: An Unexpected Power Couple
Why is BlackRock’s proposal so significant? It’s not from a small startup; it’s from the world’s biggest asset manager with a remarkable 99.8% ETF approval rate. BlackRock’s CEO, Larry Fink, has shown a growing interest in Bitcoin, calling it “digital gold.”
What makes this even more interesting is Bitcoin’s potential as an ESG (Environmental, Social, and Governance) asset. Michael Saylor, a big Bitcoin supporter, may have convinced Fink that Bitcoin is the ultimate ESG investment. ESG stands for Environmental, Social, and Governance and represents responsible investing principles. Could Bitcoin become the face of a new, ethical financial world?
#Bitcoin is an International Asset. – Larry Fink, BlackRock CEO pic.twitter.com/WIVKITXYPj
— Michael Saylor⚡️ (@saylor) July 5, 2023
Now, let’s add another interesting element: next year, Bitcoin’s supply issuance will be halved. For crypto experts, this signals a supply shortage, which, when combined with growing institutional interest, goes beyond a regular bull run – it turns into a stampede. If BlackRock’s proposal gets approved, it could trigger a massive FOMO (Fear of Missing Out) frenzy.
But BlackRock isn’t alone in this journey. Big financial players like Fidelity and Vanguard are also waiting for their Bitcoin ETF approvals. If the SEC gives the green light to BlackRock, it could lead to a domino effect of approvals, reshaping the cryptocurrency industry.
Analysts are already talking about big numbers, with phrases like “Bitcoin to $100,000” floating around in the crypto world. But it’s not just about hitting a price milestone; it’s about changing how we see value, wealth, and maybe even our social systems.
All the pieces seem to be falling into place for a potential major shift. From major financial institutions to regular people, everyone is watching Bitcoin closely. It’s not a question of ‘if’ Bitcoin will rise, but ‘when.’ And when it happens, it could be a momentous event that changes the cryptocurrency landscape.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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