In an unprecedented move, BlackRock invested $1.15 billion in Bitcoin this week, giving a strong boost to the crypto market.
Big players are invading the crypto space, attracted by Bitcoin's safe-haven property as digital gold. With the U.S. stock market rising to a concerning level, they need to find unrelated assets to hedge against risks.
The capital-absorbing ability of Bitcoin spot ETFs is impressive, with funds continuously flowing into the crypto market through this legal channel.
Currently, the crypto market is closely tied to the U.S. stock market. BlackRock's buying at this time may be a bet that when the stock market corrects, crypto assets can become a safe haven for funds.
With BlackRock buying so much, ordinary investors are more conflicted; they worry about being taken advantage of if they join in, but fear missing out on profits if they don't.
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