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BlackRock executive: More and more investors across wealth classes view Bitcoin as a hedging tool
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2024-12-05 11:32 7,926
Golden Finance reported that Bitcoin has been rising all the way, breaking through the $100,000 mark. A large portion of the demand driving Bitcoin prices has recently flowed into Bitcoin ETFs. Jay Jacobs, U.S. head of thematic and active ETFs at BlackRock, said the value of the IBIT ETF has grown to more than $45 billion since its launch in January this year, adding $4.1 billion in value in the past month alone. Jacobs said that in addition to more cryptocurrency-friendly candidates winning elections, more and more investors across the wealth spectrum are beginning to look at Bitcoin as a hedge against geopolitical risks and inflation-induced currency debasement. As ETFs become an easy-to-use way for investors to understand Bitcoin's price movements, it's only a matter of time before mainstream interest in the cryptocurrency reaches a critical mass. (Golden Ten)
Keywords: Bitcoin
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