Bitcoin’s (BTC) price has soared by 10% in the past week thanks to billions of dollars flowing into exchange-traded funds (ETFs). Morgan Stanley has been one of the investment giants pumping money into ETFs. The company recently disclosed that it had invested over $270 million in the Grayscale spot Bitcoin exchange-traded fund (GBTC) in a filing with the U.S. Securities and Exchange Commission (SEC).
The 13-F filing showed Morgan Stanley owns 4,269 shares of GBTC, another clear indicator that major financial institutions have now jumped on the cryptocurrency hype train.
The cryptocurrency world is now eagerly awaiting Ethereum (ETH) spot ETFs possibly being greenlighted by the SEC on May 23.
-----Cryptonews AD----->>>
Sign up for a Bybit account and claim exclusive rewards from the Bybit referral program! Plus, claim up to 6,045 USDT bonus at . https://www.bybit.com/invite?ref=PAR8BE
<<<-----Cryptonews AD-----
Meanwhile, Dogecoin (DOGE) rival Milei Moneda ($MEDA) has sold over $68 million tokens with its presale in its third stage. The meme coin is a parody of Argentina’s quirky economist-turned-president Javier Milei, and it brings his anarcho-capitalist ideas to the cryptocurrency space with a bit of fun and humor.
Economize Like Milei: Invest in $MEDA!
Analysts declare Milei Moneda ($MEDA) is the best meme coin launched in 2024
Mileinomics is the guiding principle of the Milei Moneda project. It shouldn’t be mistaken for just another meme coin; it’s a community-driven cryptocurrency initiative that brings together politics, humor, and decentralized finance.
The Milei Moneda project represents financial autonomy and the opportunity to build generational wealth for cryptocurrency investors.
Javier Milei has emerged as a symbol of rebellion against the status quo in Argentina because of his advocacy for economic reforms and his belief that the Argentinian people should be in control of their destiny.
The Milei Moneda project shares that philosophy, and those who invest in it will play essential roles in its governance. Users who develop the most valuable proposals will be rewarded for their efforts.
One significant difference between the Milei Moneda project and every other meme coin is its excellent tokenomics. $MEDA is a deflationary token, and the circulating supply is limited to 500 million. That opens up the possibility for considerable growth as its market cap grows.
Some of the benefits investors get to enjoy in Milei Moneda’s ecosystem include:
- Access to exclusive NFTs, content, and events
- Rewards for proposing helpful ideas
- Regular giveaways
- Locked liquidity
- NFT staking rewards
Milei Moneda’s developers aim to reach a $1 billion valuation by the end of the year, which should move $MEDA’s price from its current $0.015 to about $2.
Economize Like Milei: Invest in $MEDA!
ETF inflows drive BTC’s price over the $71,000 resistance level
Morgan Stanley isn’t the only financial giant pouring millions of dollars into Bitcoin exchange-traded funds. Data from River Financial shows that 12 of the top 25 hedge funds in the U.S., including Point72, Millennium, and Citadel, established Bitcoin ETF positions during the first quarter of 2024.
The launch of ETFs has led to the popular cryptocurrency’s official debut as retail and institutional capital is poured into it, driving BTC’s price upward. Another massive wave of capital is again pouring into the Bitcoin space, and some analysts expect a new all-time high (ATH) to be set in the coming weeks.
Dogecoin’s (DOGE) price has surged 15% in the past seven days
Dogecoin investors are again feeling bullish as its trading volume jumps by 271%, pushing prices above the $0.17 resistance level for the first time since mid-April.
Some analysts believe DOGE is about to enter a strong bull cycle that could take prices to new highs, given it just converted a multi-year resistance level into a new support level. DOGE prices would be a lot higher if it didn’t have a 144 billion token supply.
Summary
BTC remains one of the best cryptos to buy because of the exponential growth projected in the coming years. DOGE investors can position themselves to earn considerable profits by riding its pump and dump, but $MEDA offers better long-term profits because of its massive growth potential.
Got $MEDA curiosity? Visit us or chat on Telegram for the inside scoop. Fast, fun, and informative!
The post Morgan Stanley Invests $270 Million in BTC ETFs, Dogecoin Rival Poised for 33% Price Surge appeared first on BitcoinWorld.
Morgan Stanley Invests $270 Million in BTC ETFs, Dogecoin Rival Poised for 33% Price Surge
