Bitcoin Skyrockets Above $70,000 As BlackRock Deems Asset A “Good Portfolio Diversifier”
==========
Bitcoin surged by more than 4.5% to above $70,000 on Monday, regaining lost ground after reaching an all-time high of $74,000 earlier this month. BlackRock's digital asset lead, Robert Mitchnick, claims that Bitcoin's unique correlations make it an effective tool for portfolio diversification. Mitchnick explained that the asset's price movements have historically correlated with real interest rates and inflation expectations. BlackRock's Bitcoin ETF, IBIT, currently holds over 240,000 BTC, more than any other Bitcoin ETF besides GBTC. The surge in Bitcoin's price coincided with over $200 million of liquidations on the day, mostly impacting short traders.
#Bitcoin #Blackrock #PortfolioDiversification #Cryptocurrency
https://cryptopotato.com/bitcoin-skyrockets-above-70000-as-blackrock-deems-asset-a-good-portfolio-diversifier/
CryptoPotato /
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2024-03-25 18:48:26
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2024-03-25 18:48:26Event JSON
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"content": "Bitcoin Skyrockets Above $70,000 As BlackRock Deems Asset A “Good Portfolio Diversifier”\n==========\n\nBitcoin surged by more than 4.5% to above $70,000 on Monday, regaining lost ground after reaching an all-time high of $74,000 earlier this month. BlackRock's digital asset lead, Robert Mitchnick, claims that Bitcoin's unique correlations make it an effective tool for portfolio diversification. Mitchnick explained that the asset's price movements have historically correlated with real interest rates and inflation expectations. BlackRock's Bitcoin ETF, IBIT, currently holds over 240,000 BTC, more than any other Bitcoin ETF besides GBTC. The surge in Bitcoin's price coincided with over $200 million of liquidations on the day, mostly impacting short traders.\n\n#Bitcoin #Blackrock #PortfolioDiversification #Cryptocurrency\n\nhttps://cryptopotato.com/bitcoin-skyrockets-above-70000-as-blackrock-deems-asset-a-good-portfolio-diversifier/",
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