Bitcoin is gaining traction as BlackRock’s recent white paper hails the cryptocurrency as a unique hedge against monetary and geopolitical risks.
This endorsement, coupled with growing institutional interest, has driven Bitcoin’s price toward $63,468, reinforcing its status as a safe-haven asset. With potential resistance levels at $65,000 and $66,500, traders are eyeing further upward momentum, supported by BlackRock’s recognition and strong market fundamentals.
The paper described Bitcoin as the world’s first “open-access monetary system,” praising its immunity to counterparty risks, banking crises, sovereign debt issues, and currency devaluations.
On September 18, 2024, BlackRock released a white paper highlighting Bitcoin as a hedge against monetary and geopolitical risks.
BlackRock’s Bitcoin White Paper Fuels Surge in BTC Price