Bitcoin ETF

Bitcoin

Elon Musk

<ul class="wp-block-list"> 
 <li>&nbsp;In terms of market capitalization, Bitcoin is currently larger than Saudi Aramco, the oil giant.</li> 
 <li>Some predict that Bitcoin’s price will reach $100,000 by the month’s end.</li> 
</ul> 
Before dropping to $90,256 on Wednesday, <a href="https://thenewscrypto.com/bitcoin-rally-hikes-metaplanets-btc-holdings-by-28-million/" target="_blank" rel="noreferrer noopener">Bitcoin</a> surged to a new all-time high over $91,000. Since Trump’s victory in last week’s US presidential election, the flagship cryptocurrency has soared, setting new records. In terms of market capitalization, Bitcoin is currently larger than Saudi Aramco, the oil giant. 
<a href="https://thenewscrypto.com/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge/" target="_blank" rel="noreferrer noopener">Trump</a> promised throughout his campaign to turn America into the “bitcoin and cryptocurrency capital of the world,” as per the agency report. 
A combination of macroeconomic fundamentals and new governmental initiatives is what market watchers say is driving this spike. Investors’ focus has shifted to alternative assets such as Bitcoin after the 25 basis points rate decrease by the U.S. Federal Reserve in November. 
<h3 class="wp-block-heading" id="h-institutional-adoption-on-the-rise">Institutional Adoption on the Rise</h3> 
Among its competitors, the BlackRock Bitcoin ETF (IBIT) has been doing well, having received $778 million on Tuesday and roughly $3 billion in the previous seven days. Additionally, it has played a significant role in the $30 billion in trading volumes of the ‘Bitcoin Industrial Complex,’ which includes Bitcoin ETFs and equities such as COIN, MSTR, etc. With such a large influx of new investors, some predict that Bitcoin’s price would reach $100,000 by the month’s end. 
According to statistics from Farside Investors, IBIT is roughly three times larger than its direct rival, Fidelity’s FBTC, because of its quick development. 
In the wake of Trump’s triumph last week, institutional investors have flocked to purchase Bitcoin in anticipation of a massive gain, as shown by the recent inflows into IBIT and the recent ATH attained by the flagship cryptocurrency. At the time of writing, Bitcoin is trading at $90,256, up 1.05% in the last 24 hours as per data from <a href="http://coinmarketcap.com" target="_blank" rel="noreferrer noopener nofollow">CMC</a>. 
Highlighted Crypto News Today: 
<a href="https://thenewscrypto.com/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge/" target="_blank" rel="noreferrer noopener">Trump Appoints Elon Musk and Vivek Ramaswamy to Lead DOGE</a>

Bitcoin Hits New All-Time High Amid Ongoing Bullish Momentum

Table of Contents

TheNewsCrypto

Other articles published on Nov 14, 2024

Crypto Reforms Ahead? Former SEC Chairman Predicts Big Moves Under Trump Administration

Bitcoin Spot ETF Inflows Hit $510M, Marking Six-Day Streak

World Liberty Financial Taps Chainlink For Crypto Integration

Bhutan Government Moves Bitcoin to Binance Exchange

Bitcoin Miners Cash In as BTC Soars Past $90K Milestone

GIGA Token Holder Loses $6.09M in Phishing Scam

Join our free newsletter for daily crypto updates!