Bitcoin has surged past $67,000, only 8% away from its all-time high.
BlackRock CEO compares Bitcoin to gold, endorsing it as a viable asset class.
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Bitcoin hit a high of $67,800 in the last few minutes, edging closer to the $68,000 and being only 8% away from its record high set in March. The breakthrough comes after BlackRock CEO Larry Fink endorsed Bitcoin as a viable asset class.Author: CoinGeckoDuring the Q3 2024 earnings call, Fink officially recognized Bitcoin as a distinct asset class, equating it to traditional commodities such as gold. He noted that BlackRock was discussing potential Bitcoin allocations with institutions worldwide.As of now, Bitcoin’s market cap has reached $1.3 trillion, a figure that proves its growing prominence and acceptance in financial circles. BTC is currently trading at around $67,400, reflecting a 3% increase over the past 24 hours, per CoinGecko.The upward trend follows a notable 5% gain yesterday, which came amid the strong performance of US spot Bitcoin ETFs. On Monday, these funds collectively drew in around $550 million in net inflows, Farside Investors data shows.Market sentiment remains bullish with expectations of further increases if Trump secures a victory in the upcoming election. Concurrently, the recent rally comes amid the WLFI token presale of Trump-backed World Liberty Finance. The project raised $5 million in the first hour despite website issues.Analysts suggest Trump’s involvement could boost the crypto sector, contrasting with Kamala Harris’s more conservative stance on digital assets.
