Conversations around Bitcoin’s utility in solving the national debt crisis have garnered significant steam following new data from Bulgaria. The value of Bitcoin sold in 2018 has risen to equal 79% of Bulgaria’s national debt, with Binance founder Changpeng Zhao backing BTC’s debt-solving capabilities. 2018 Bitcoin Sale Nearly Offsets Bulgaria’s National Debt A report has
The post Can Bitcoin Solve Debt Crisis? Bulgaria’s 213K BTC Sale In 2018 Now Equals 79% Of National Debt appeared first on CoinGape.
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Larry Fink, the CEO of the world’s largest asset manager BlackRock, says he is bullish on BTC price and Bitcoin for the future. Larry Fink has been outspoken about the value of Bitcoin in the future after BlackRock announced a spot Bitcoin ETF application with the U.S. Securities and Exchange Commission (SEC) in June. Last week, he said Bitcoin is a “flight to quality.”
BlackRock CEO Values Bitcoin Equal To Human Freedom
BlackRock CEO Larry Fink has again indirectly expressed his bullish sentiment on Bitcoin during a conversation with value investor and Bitcoin enthusiast Mike Alfred. Answering a question on how valuable he thinks Bitcoin can be in the future, Larry Fink said — “What is the value of human freedom?”
Fink’s suggestion that Bitcoin’s value equals human freedom shows his confidence and bullishness about Bitcoin in the future. The comment came after the SEC recently began constructive discussions with Bitcoin ETF issuers on several aspects for considering approving Bitcoin ETF.
Bloomberg’s analysts Eric Balchunas and Seyffart increased the odds of a spot Bitcoin ETF approval to 90%. The Grayscale ruling has become an important precedent for the approval of a spot Bitcoin ETF. Bloomberg analysts, as well as executives Mike Novogratz and Cathie Wood, believe Bitcoin ETF will come this year. JPMorgan’s report on the chances of a Bitcoin ETF approval by the SEC this year sparked bullish sentiment in the global crypto market.
Also Read: Coinbase Legal Chief Says SEC Needs To Approve Bitcoin ETF “Under The Law”
BTC Price Rallying to $31,000
The recent positive sentiment in the crypto market brings Bitcoin near $31,000. Traders anticipate trend continuation as BTC picks upside momentum with strong chart patterns and indicators suggesting more upside moves.
BTC price jumped nearly 2% in the last 24 hours and over 10% in a week, with the price currently trading at $30,700. The 24-hour low and high are $29,720 and $30,951, respectively. Furthermore, the trading volume continues increase with 20% in the last 24 hours.
Also Read: Bitcoin Shorts Are Piling Up As the BTC Price Shoots Past $30,000, What’s Next?
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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