#BTC☀️ Surges Past $63.6K After BlackRock Releases White Paper on Bitcoin
Bitcoin surged nearly 6% after the world's largest asset manager published a white paper highlighting the digital asset's potential as a hedge against currency and geopolitical risks.
#Blackrock published a white paper
on its appeal to investors as a "unique diversifier" untethered from traditional fiscal and geopolitical risks. Some analysts are predicting a three-month Bitcoin rally to $92,000, which could begin in October, based on historical chart patterns and Bitcoin's average monthly return in the fourth quarter of the year.
BlackRock: Bitcoin Can Serve as a Hedge Against Currency and Geopolitical Risks
The white paper notes that Bitcoin's permissionless and decentralized nature made it the world's first "truly open-access monetary system," not just a cryptocurrency.
