Two Wall Street financial giants are preparing to enter the market. Bitcoin is on the cusp of major changes.
Just last week, two major financial giants, BlackRock and Fidelity, announced their preparations to enter the Bitcoin market broadly and announced their application for approval to set up managed exchange-traded funds.
BlackRock manages $10 trillion in assets and Fidelity manages $4.5 trillion. In short, these large investment firms with strong financial clout could potentially re-enter the cryptocurrency world if they decide to do so. Shape the entire pattern.
Mike Novogratz, CEO of digital asset investment firm Galaxy Digital, said in a tweet that approval would be "the best thing that could happen to Bitcoin."
Novogratz emphasized that this area will open the door to institutional and individual investors and will unleash a large amount of funds in the cryptocurrency market, which will have a profound impact on Bitcoin prices and overall market dynamics.
The increased demand generated by the entry of these influential players into the market could push Bitcoin to new heights, attracting more investors and giving the cryptocurrency more legitimacy.
