Bitcoin BTC/USD has hit $105,125, a 2.8% jump in the past 24 hours. The rise came as cryptocurrencies are gaining acceptance in traditional finance and an influx of institutional money could push Bitcoin's price further.
JP Morgan Chase & Co JPM made the decision to offer Bitcoin access to its wealth management clients as its CEO, Jamie Dimon, has recognized a growing appetite for digital assets.
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Morgan Stanley MS to discuss with regulators ways to allow crypto safely. The bank would ask financial advisors to bring ideas on spotting bitcoin exchange-traded funds to make them available for qualified customers.
JP Morgan has predicted that Bitcoin is ready to outperform gold in 2025. According to The Defiant, Bitcoin will witness upside in the 2nd half of the year.
Bitcoin is surging toward a $106,000 mark. The rally is fueled by renewed investor confidence, and increased institutional activity, and recent regulatory news. Bitcoin is trying to break through some resistance. The market is looking positive, which may give a solid crypto bull market.
DigiAsia Corp FAAS, a fintech company, announced they're planning to raise $100 million to invest in Bitcoin. DigiAsia confirmed its board of directors have passed the decision to build a Bitcoin treasury reserve.
DigiAsia has also initiated talks on BTC yield strategies and treasury reserve management with BTC's regulated partners. The company is analysing capital markets solutions, which include convertible notes, equity-linked offerings, and structured crypto finance instruments.
BlackRock Inc's BLK Bitcoin ETF is holding over $6.5 billion in assets and hitting $3 billion in daily trading volume.
The institutional adoption is giving regular investors a way to get into Bitcoin in a regulated manner. Almost 50% of the inflows are shared to iShares Bitcoin Trust. The net inflow has reached up to $45.9 billion. The ETF's popularity highlights the demand for compliant Bitcoin investment options.
Bitcoin has also seen some pullbacks due to mixed signals in the economy and some investor caution. There are uncertainties about interest rates and liquidity of assets. Bitcoin has held its ground better than smaller altcoins. Long-term holders see these short-term dips as a chance to buy more.
Jack Dorsey, founder of X, formerly Twitter, proposed rebranding Bitcoin. It moves away from the name of its mysterious creator, "Satoshi." Bitcoin has up to 100,000,000 sats or satoshis at present.
The tweet gained over 1 million views including promoting posts for BIP 177. John Carvalho, a software developer, has sent a Bitcoin Improvement Proposal, titled "Redefine Bitcoin’s Base Unit." The proposal shifts the display of Bitcoin's quantities and removes the leading zeros and decimal points.
The recent surge in Bitcoin’s price seems to be a mix of big players getting involved, some whales stashing their coins, and a few good vibes from regulators. A bright picture is being painted for Bitcoin's future in the market.
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