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news-imageSeptember 20, 2024

Bitcoin's Reserve Asset Appeal Increased Due To State Of US Federal Deficit And Debt, Says BlackRock: A Hedge Against 'Possible Future Events' Affecting The Dollar

In the face of a $35 trillion federal debt crisis, global asset manager BlackRock Inc. (NYSE:BLK) strategically advocated for Bitcoin (CRYPTO: BTC) as a safeguard, potentially raising the upside potential of the world's largest cryptocurrency. What Happened: BlackRock noted concerns about the spiraling $35 trillion U.S. fiscal deficit, attributing it as a significant driver of growing institutional interest in Bitcoin, according to a paper authored by some of the top executives from the asset management giant, including BlackRock's ETF Chief Investment Officer Samara Cohen and Head Of Digital Assets Robert Mitchnick.
Publisher: Benzinga
Sentiment: Positive
BTC

More News Articles

Positive
cover-imageThe Currency Analytics
September 20, 2024

Bitcoin's Strong September Hints at Bullish Year-End Surge

Bitcoin (BTC) has emerged as a standout performer, wrapping up the month on a high note and igniting speculation about a potentially bullish fourth quarter. Historically, Bitcoin's performance in September has often set the tone for its trajectory in the months that follow.

Negative
cover-imageBenzinga
September 20, 2024

Max Keiser Attacks Michael Saylor For Finding Fault With El Salvador's Bitcoin Strategy: 'You Owe Nayib Bukele An Apology'

Staunch Bitcoin (CRYPTO: BTC) advocate Max Keiser slammed MicroStrategy Inc. (NASDAQ:MSTR) co-founder Michael Saylor for casting aspersions on the Bitcoin strategy adopted by the Nayib Bukele-led El Salvador administration. What Happened: Keiser took to X on Thursday to respond to Saylor's broader argument questioning investments in Bitcoin without any expectation of a yield on it.

Neutral
cover-imageThe Currency Analytics
September 20, 2024

Bitcoin Thought Leaders Debate Yield on BTC Deposits

Michael Saylor is a prominent advocate for Bitcoin, having led MicroStrategy to become one of the largest corporate holders of the cryptocurrency. In a recent podcast, Saylor expressed his belief that Bitcoin could serve as a new form of “perfected capital.

Positive
cover-imageThe Currency Analytics
September 20, 2024

Global Liquidity Surge: Is Bitcoin Heading Towards $100,000

The cryptocurrency market is once again buzzing with speculation as recent monetary policy changes by the Federal Reserve may set the stage for Bitcoin to reach unprecedented heights. Following a significant 50-point interest rate cut, many analysts are predicting that Bitcoin could soar towards the elusive $100,000 mark.

Positive
cover-imageNewsBTC
September 20, 2024

Crypto Shorts Suffer $147 Million Squeeze As Bitcoin Returns Above $63,000

Data shows the cryptocurrency sector as a whole has witnessed a high amount of liquidations following the volatility Bitcoin and others have gone through. Bitcoin Has Recovered Back Above The $63,000 Level Following the news of the US Federal Reserve cutting back on interest rates, Bitcoin has responded positively, with its price breaking above the $63,000 level.

Positive
cover-imageThe Currency Analytics
September 20, 2024

Bitcoin and Gold Shine as Top Assets in 2024

Bitcoin (BTC) and gold have positioned themselves as standout performers in the financial markets. This year, a blend of geopolitical tensions and ongoing inflation has bolstered the appeal of both assets.

Neutral
cover-imageNewsBTC
September 20, 2024

Bitcoin Price Rally Faces Key Resistance: Will Whale Shorts Trigger A Market Pullback?

As the broader cryptocurrency market experiences notable gains following the Federal Reserve's rate cuts, Bitcoin (BTC) has reached a price of $63,670 on Thursday, marking substantial bullish momentum since late August. This surge has sparked increased interest from both retail traders and institutional players, leading to diverse positioning within the market.

Positive
cover-imageThe Daily Hodl
September 20, 2024

BlackRock Says Bitcoin a ‘Unique Diversifier' Amid Geopolitical, Fiscal and Political Risks

Finance giant BlackRock is saying that Bitcoin (BTC) is a unique investment opportunity offering investors something much different than traditional assets. BlackRock, a firm with over $10 trillion in assets under management, says in a new report that Bitcoin could act as a hedge against the United States' mounting debt and other macroeconomic concerns.

Positive
cover-imageBenzinga
September 19, 2024

Bitcoin, Ethereum, Dogecoin Surge: Has The 'Final Cycle Pump' Really Started?

Cryptocurrency markets are trading 5.9% higher to $2.19 trillion as crypto short liquidations spiked to the highest level since Aug. 23. Cryptocurrency Price Gains +/- Bitcoin (CRYPTO: BTC) $63,485.74 +5.3% Ethereum (CRYPTO: ETH) $2,467.60 +6.6% Solana (CRYPTO: SOL) $143.74 +10.8% Dogecoin (CRYPTO: DOGE) $0.1062 +5% Shiba Inu (CRYPTO: SHIB) $0.0000142 +6.3% Notable Statistics: IntoTheBlock data shows a 1% drop in large transaction volume and a 5.7% decline in daily active addresses.

Positive
cover-imageBenzinga
September 19, 2024

Bitcoin Worth $63,000 Pulled In $33 Pack Of Trading Cards At GameStop: 'Mind-Boggling' Story Goes Viral, Highlights Crypto Redemption Card

With a change in its business practices, GameStop Corporation (NYSE:GME) allows CEO Ryan Cohen the ability to buy and sell stocks and cryptocurrency with the company's cash. While GameStop hasn't added Bitcoin (CRYPTO: BTC) to its balance sheet yet, the company did help one customer turn a small purchase into a full BTC worth over $60,000.

Negative
cover-imageCoingape
September 19, 2024

Genesis Creditor Loses $243M Bitcoin In Crypto Phishing Heist, Here's All

In the highly sophisticated social engineering scheme this past August 19, 2024, a lone Genesis creditor became the mark of a heist among three principals, namely Greavys, alias Malone Iam; Wiz, alias Veer Chetal; and Box, alias Jeandiel Serrano. In fact, the unravelling of this Genesis heist was greatly aided by blockchain investigator ZachXBT-a true

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