At present, the majority of factors are showing Bitcoin adoption and dominance surging rapidly across the world, led by top world-renowned financial leaders.
The current trade price of Bitcoin (BTC) is $62,245, up 1.43% over the last 24-hour period. The majority of investors are bullish with the current month’s “Uptober” trend.
The current trade price of #Bitcoin is $62.1k pic.twitter.com/uHnCzvRQeu
— Bitcoinik (@Bitcoinikdotcom) October 5, 2024
-----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-----
El Salvador & Bitcoin adoption
As we know, El Salvador officially adopted Bitcoin as a legal currency in September 2021 and later established multiple new Bitcoin projects to push the adoption of Bitcoin in more positive ways.
Recently, the International Monetary Fund (IMF) urged the El Salvador government to reduce efforts related to Bitcoin adoption.
No reaction has been seen from El Salvador President Nayib Bukele on such comments, which hints that he is fully determined with his Bitcoin adoption strategy.
These days, El Salvador officials are in talks with Argentine authorities. Reportedly, they also discussed Bitcoin adoption as a tool to fight against rising inflation.
BlackRock Bitcoin Spot ETF
As we know, many fund managers in the US have secured regulatory approval for Bitcoin spot ETF products, and currently, 5% of the Bitcoin supply is in circulation among BTC spot ETF issuers.
To promote its Bitcoin spot ETF product IBIT, BlackRock is advocating for Bitcoin adoption while simultaneously explaining the potential decline in the purchasing power of the US dollar.
More Spot ETF Funds on Bitcoin
Due to the sudden rise in Bitcoin spot ETF adoption, some fund managers are launching Bitcoin cum Ethereum spot ETF products. In the latest developments, Franklin Templeton has submitted its application for a BTC and ETH Index ETF with the United States Securities and Exchange Commission (SEC).
Read also: Coinbase To delist Tether (USDT) stablecoin in EU, Tether working on new solution
https://bitcoinik.com/blackrock-is-now-the-biggest-bitcoin-advocate-while-imf-urges-bitcoin-bull-country-to-narrow-btc-support/feed/
https://bitcoinik.com/blackrock-is-now-the-biggest-bitcoin-advocate-while-imf-urges-bitcoin-bull-country-to-narrow-btc-support/feed/
