A crypto analyst who hosts the YouTube channel InvestAnswers expressed his view that the partnership between crypto exchange Coinbase and asset manager BlackRock could push. bitcoin price Up to $773,000.
According to him, if BlackRock invests 0.5% of its assets in BTC with a 21x multiplier, its market capitalization will increase by $1.05 trillion. This will add $75,000 to the Bitcoin price, bringing it to $99,000.
According to the analyst, if BlackRock allocates 1% of the funds, it will add approximately $2.1 trillion to the market capitalization and $150,000 to the Bitcoin price. If the asset manager invests 5%, the price of BTC could soar to $773,000 in the next three to five years.
Let’s remind you, at the beginning of August, BlackRock announced a partnership with Coinbase. As part of the collaboration, BlackRock institutional investors using the Aladdin crypto platform will have direct access to digital assets. Currently, the partnership is valid for BTC only.
Source: Port Altele
John Wilkes is a seasoned journalist and author at Div Bracket. He specializes in covering trending news across a wide range of topics, from politics to entertainment and everything in between.