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BlackRock's Bitcoin Trust Filing Could Boost Confidence in BTC, But Some Warn of Hidden Costs

BlackRock's filing for a Bitcoin trust is expected to boost investor confidence in the cryptocurrency, according to some industry experts. Galaxy Digital CEO Mike Novogratz called it "the best thing that could happen to $BTC."

The move is also seen as a vote of confidence in Bitcoin's status as a commodity rather than a security. However, others argue that BlackRock's entry into the space undermines the ethos of decentralised cryptocurrencies and could result in retail investors missing out on the rewards.

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