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Bitcoin Cash Up 55%: What’s Behind Unlikely Comeback?Read more on DailyCoin: https://dailycoin.com/bitcoin-cash-up-55-whats-behind-unlikely-comeback/?utm_source=cryptopanic&utm_medium=rss
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Bitcoin Tapping Into $84,000,000,000,000 Market, BTC Adoption Now Overwhelming: Billionaire Mike Novogratz. Galaxy Digital chief executive Mike Novogratz believes that Bitcoin now has access to an $84 trillion market following the approval of BTC spot market exchange-traded funds. Speaking at the Bitcoin Investor Day event in New York, the billionaire says BTC is witnessing a dramatic increase in adoption with the launch of the ETFs. He also says that ETF salesmen will have no problem selling Bitcoin to participants of the $84 trillion market due to the mountain of debt accumulated by the US government. “Right now, adoption is way overwhelming because we’ve just tapped into [a new market]. So here are the numbers: there’s $84 trillion of wealth – trillion – owned by US baby boomers. Baby boomers are broadly 60 to 80 years old… They broadly invest through registered investment advisors. You call your broker at Dean Witter or Morgan Stanley or AJ Edwards and say, ‘Hey, what’s my portfolio? Put a little bit here.’ That is the ETF process and it has just started. And so early, big adoption, a lot of the smaller platform regional brokers have been buying, but a lot of the big platforms like Morgan Stanley, they’re still not selling yet. They are going to, they’re getting prepared to. You can buy it on their platform but their salesmen aren’t selling it. One thing I’ve learned about Bitcoin: it’s always sold, it’s not bought. Somebody sits down and explains it to you. What’s the macro story of Bitcoin? It’s relatively simple: our government can’t keep its pants on and is spending too much money. When you spend more money than you take in, you depreciate your currency.” At time of writing, the US national debt is sitting at $34.578 trillion. #BTC #bitcoin #Write2Earn

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1,000 Billionaires Begin $5,200,000,000,000 Transfer of Wealth – And the ‘Heirs To Billionaires’ Have Their Own Ambitions: Report An astonishing and historic transfer of wealth among the world’s super rich is accelerating, according to a new report. More than 1,000 billionaires are moving an estimated $5.2 trillion to their brethren at an increasing pace, says Swiss banking giant UBS in its latest “Billionaire Ambitions” report. link:https://dailyhodl.com/2024/03/31/1000-billionaires-begin-5200000000000-transfer-of-wealth-and-the-heirs-to-billionaires-have-their-own-ambitions-report/

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Bitcoin price edges toward Q2 at $70K with all-time highs a key focus Bitcoin needs to retain $69,000 into the multiple BTC price candle closes this weekend, says analysis. Data from Cointelegraph Markets Pro and TradingView showed old all-time highs at $69,000 forming tentative BTC price support into the weekend. Bitcoin gained around $1,000 in the latter part of the day, seemingly aided by comments from Jerome Powell, Chair of the United States Federal Reserve. Speaking in an interview at the Macroeconomics and Monetary Policy Conference in San Francisco, California, Powell appeared cool on both inflation and the economic outlook. The Fed, he stressed, was not in a hurry to enact Interest rate cuts — a key event for risk assets. “Growth is strong right now, the labor market is strong right now and inflation has been coming down,” he said.

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BlackRock CEO Shocked by Explosive Growth of Bitcoin ETFs Amid Overseeing $10T In a recent interview on FOX Business, BlackRock CEO Larry Fink expressed astonishment at the remarkable surge in Bitcoin spot exchange-traded funds (ETFs), particularly those managed by his firm. With BlackRock overseeing $10 trillion, Fink’s admission of surprise underscores the unprecedented feat of Bitcoin’s ascent in the U.S. crypto ETF market. “I am very bullish on the long-term viability of Bitcoin,” Fink declared, acknowledging the cryptocurrency’s recent milestone of hitting a record-breaking high of $72,850. Reflecting on the market’s rapid growth, he remarked link:https://coinedition.com/blackrock-ceo-shocked-by-explosive-growth-of-bitcoin-etfs-amid-overseeing-10t/

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