From NASDAQ:

BlackRock, the largest asset manager in the world, plans to invest in spot bitcoin exchange-traded products for its Global Allocation Fund and Strategic Income Opportunities Fund, totaling billions of dollars.

Crypto analyst Scott Melker predicts that with the increased adoption of bitcoin products by major financial funds, the bitcoin price could potentially double from its all-time high to reach over $138,000 or even $150,000.

Recent BlackRock filings with the SEC reveal the firm’s intention to invest in bitcoin-focused products, including its own IBIT spot bitcoin ETF, for its funds. This passive investing approach could drive demand and buying pressure for bitcoin.

Bitcoin reached a new all-time high above $72,000 this morning, following the trend of quickly doubling its previous records after breaking them. Analysts believe BlackRock’s actions could push the price beyond $138,000 in the near future.

As of now, the bitcoin price is around $71,700, up 2.5% for the day and over 10% in the past week, showing a positive trend in its value.



Read more at NASDAQ: BlackRock Filings Can Send ‘Bitcoin Far Higher Than $138,000,’ Analyst Says