Bitcoin is already $52,000 – the $60,000 mark is just around the corner
Over the past three weeks, BTC has risen by $22,000 (73%), adding an average of $1,000 each day.
BlackRock, with $8.7 trillion in assets, reported interest in bitcoin. BlackRock's chief investment officer Rick Reader said the company is starting to pay more attention to BTC as investors look for alternative savings, writes coinspot.
Reader said that BlackRock does not yet give any recommendations regarding bitcoin, but since many now hold a lot of money, investing some assets in cryptocurrency "may make sense."
In January, BlackRock gave two of its funds the opportunity to invest in BTC futures. Reader has previously admitted that bitcoin can replace gold because it is "much more functional."
Bitcoin can compete with gold, but has little chance of becoming an alternative currency. This opinion was voiced by the head of the Federal Reserve Bank of St. Louis James Bullard on CNBC.
Microsoft, the world's third-largest market capitalization company, has no plans to transfer cash reserves to bitcoin in the near term, said Brad Smith, the corporation's president.
Cryptocurrency exchange Coinbase helped Tesla to conduct a deal to buy bitcoins for $1.5 billion, The Block reported citing sources. The companies themselves have not commented on this information.
"All participants in the crypto market, from retail non-professional investors to institutionalized and whale-ing growth, are expected to grow to $60K, where bitcoin will be waiting for one of the most serious tests in the current bullish rally," fxPro's team of analysts said.