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Bitcoin Could Benefit from BlackRock ETF Approval and Fed Rate Hike Pause in 2023

Charles Edwards, the founder of Capriole Investments, believes that the BlackRock exchange-traded fund (ETF) will greatly benefit Bitcoin. While Bitcoin may be less of a sure bet on shorter timeframes, the overarching narrative of crypto becoming a recognized global asset class remains. Edwards predicts that Bitcoin will continue to steadily rise, but the relative value opportunity is slightly less as a result.

The approval of a Bitcoin ETF could be a significant step towards wider acceptance and make it easier for institutions to add Bitcoin to their balance sheets without worrying about custody or entering the crypto space. The Fed is expected to make changes in the coming months towards a pause in rate hikes, and the BlackRock ETF approval will allow a new wave of capital to flow into the market.

Bitcoin Bitcoin $93,175.84
-1.82%
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