BlackRock Bitcoin ETF sees $1B volume in first minutes of post-election trading
Some analysts expect Bitcoin’s price to surge following Donald Trump’s Nov. 5 election win.
Upward of $1 billion worth of BlackRock’s Bitcoin (BTC) exchange-traded fund (ETF) changed hands in the first minutes of trading after Donald Trump prevailed in the United States presidential election on Nov. 5, according to data from Bloomberg.
Analysts predict BTC’s price will keep rising now that Trump, a cryptocurrency-friendly Republican, is slated to start his second term as US president on Jan. 20.
Valuation models suggest “a $100,000 Bitcoin is quite possible by the time the 47th U.S. President heads to the Capitol for inauguration,” Fadi Aboualfa, head of research at Copper.co — a crypto custodian — told Cointelegraph in an email.
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Author: Alex O’Donnell
