Cryptocurrency Suddenly Prepares for Huge $10 Trillion Earthquake as Extreme Volatility Hits Price of Bitcoin, Ethereum, BNB, Solana, Cardano, and XRP

Bitcoin rallied during February, as the cryptocurrency market combined added nearly $300 billion since its January lows – despite a serious warning about JPMorgan’s price.

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Bitcoin price is still nearly 40% off its November peak, however, other major coins including Ethereum, BNB, solana, cardano and XRP are well below their 2021 highs.

Now, reports have emerged that the world’s largest asset manager, BlackRock, which looks after the assets of $10 trillion for institutional investors, is preparing to enter the bitcoin and cryptocurrency market.

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Bitcoin price has fluctuated dramatically over the past 12 months with the price of Ethereum, BNB, solana… [+] Cardano and XRP are also bouncing.

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“[BlackRock] He sees all the flow that other people are getting and wants to start making some money from this,” a person familiar with BlackRock’s plans for Coindesk said.

Another said that BlackRock will allow its customers to trade cryptocurrency through its Aladdin advanced investment management platform, while a third said BlackRock is “looking forward to hands-on cryptocurrency” and was “looking for service providers in the space.”

BlackRock’s interest in bitcoin and cryptocurrency has grown over the past few years. In December 2020, BlackRock CEO Larry Fink said the increased search volume for “bitcoin” on the company’s website indicated increased legitimacy, adding that the level of interest generated by BlackRock’s previous comments on Bitcoin showed how the cryptocurrency “has captured attention and imagination.” Many “who” are fascinated and excited by it.

In May, Fink said that the asset manager was studying bitcoin to determine if it could provide countercyclical benefits, and that speculative bitcoin would likely play a role in long-term investment as an asset class similar to gold.

Last year, a BlackRock fund bought bitcoin futures, and just last month the asset manager submitted an application for an exchange-traded fund (ETF) that will hold blockchain and crypto companies.

During 2021, Wall Street giants began exploring bitcoin and cryptocurrencies amid a growing demand from their customers. However, most are very cautious and have indicated that they want to see more regulatory clarity before moving forward.

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More Forbes Congress Presents Radical Crypto Bill to ‘Unleash Innovation’ as Bitcoin, Ethereum Suddenly Rise

Bitcoin price rallied during February as bulls try to regain control. price … [+] Ethereum, BNP, Solana, Cardano, and XRP also rebounded.

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In July last year, Bank of America agreed to trade bitcoin futures for some clients after Goldman Sachs relaunched its crypto-trading desk after a three-year hiatus. Although bank CEO Jamie Dimon remains skeptical of bitcoin and cryptocurrency, last year JPMorgan gave wealth management clients access to crypto funds.

The acceptance of bitcoin and cryptocurrencies on Wall Street was boosted by the launch of the first bitcoin futures ETF in the United States in October of last year, and corporate adoption of bitcoin and cryptocurrencies is slowly increasing.

Earlier this week, Canadian accounting giant KPMG announced that it had added both bitcoin and ethereum to its balance sheet, while Elon Musk’s Tesla said the value of its bitcoin holdings had increased to more than $2 billion.

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