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BlackRock, a well-known American multinational investment management company, has once again emphasized that #bitcoin could become a strategic asset. In a recent statement, the company confirmed the prospect, which has been gaining momentum in the financial world for years. According to the investment firm, #BTC is a great tool to hedge against global turmoil that could arise from the growing distrust of governments, banks and fiat currencies.
Reflecting on this prediction, renowned cryptocurrency analyst Michael van de Poppe joins #BlackRock in predicting that the price of bitcoin will reach $600,000 in the current market cycle.
There is no denying the fact that Blackrock's decision to introduce bitcoin in 2023 with the Spot Bitcoin Etf was a turning point for cryptocurrencies. As the world's largest asset management company, the move has caused excitement in the investment community and confirmed Bitcoin's growing role as a legitimate asset class.
BlackRock CEO Larry Fink, who was once a bitcoin skeptic, has changed his stance and stated that investors will be adding bitcoin to their portfolios to hedge inflation, in his words, bitcoin"is an asset class that protects you
In a similar statement, Blackrock said bitcoin could be a hedge against increasing global turmoil and declining confidence in governments, banks and fiat currencies.
This comes amid concerns about inflation in economies around the world since the beginning of the year.
the company believes that as cracks in the traditional financial system become more apparent, BTC will play a key role in maintaining wealth as its value rises in the future. An example of such investors is Michael van de Poppe, a loyal bitcoin enthusiast.
This explains it all.
What's next for BTC?
BTC has risen 7% in 3.
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