BTC’s $110K Prediction, BlackRock’s $1.1B Cash Inflow, and More: Hodler’s Digest for Nov. 3 – 9
The past week has been full of exciting developments in the world of cryptocurrency. Let’s dive into some of the top stories that you may have missed!
First up, BlackRock’s iShares Bitcoin Trust ETF pulled in an impressive $1.1 billion in daily inflows after a record trading day. This surge came as Bitcoin continued to smash through all-time highs, reaching $76,943. The Fidelity Wise Origin Bitcoin Fund and ARK 21Shares Bitcoin ETF also saw significant inflows, highlighting the growing interest in digital assets.
In other news, the State of Michigan Retirement System added exposure to Ether exchange-traded funds, with investments totaling about $18 million. This move followed their previous investments in the ARK 21Shares Bitcoin ETF, which had seen a substantial increase in value since June.
On the regulatory front, Pakistan made headlines by proposing to legalize digital assets such as cryptocurrencies as legal tender. If approved, this could pave the way for a central bank digital currency in Pakistan, setting the stage for wider adoption of crypto in the country.
In a surprising turn of events, Donald Trump was elected as the President of the United States for a second time. Trump’s victory has been met with enthusiasm in the cryptocurrency community, as he has shown strong support for crypto in the past. Wyoming Senator Cynthia Lummis also reiterated plans to establish a strategic Bitcoin reserve in the US, further highlighting the growing acceptance of digital assets in the political landscape.
Wrapping up the week, Bitcoin is currently trading at $75,944, Ether at $2,933, and XRP at $0.55. The total market cap sits at $2.51 trillion, with some altcoins making impressive gains while others saw losses.
Overall, it’s been an eventful week for the cryptocurrency market, with plenty of exciting developments to keep an eye on. Stay tuned for more updates on the latest trends and news in the world of digital assets!
