As per Crypto influencer cryptorover there are speculations that if the BlackRock Spot ETF is approved, Bitcoin could reach a price of $200,000 or more.
There are several reasons why this approval is seen as likely
- Firstly, BlackRock has a high rate of ETF approval, with only one rejection in its history.
- Secondly, during the 2008 financial crisis, the U.S. government and Federal Reserve sought BlackRock’s expertise, showing a level of trust in the company.
- Thirdly, the CEO of BlackRock has shown support for Bitcoin, calling it a “digital gold” and highlighting its potential diversification benefits.
Additionally, BlackRock has previously introduced a private Bitcoin ETF for institutional investors.
And Furthermore, the spot Bitcoin ETFs are already operational in Europe and Canada, and other major asset management firms.
