COINOTAG News reported on December 5th that Bitcoin has soared, surpassing the significant $100,000 threshold. The surge in Bitcoin’s value is largely attributed to a notable influx of capital into Bitcoin ETFs. Jay Jacobs, BlackRock’s Head of Thematic and Active ETFs in the U.S., revealed that the IBIT ETF, which launched in January, has seen its valuation inflate to over $45 billion, with a remarkable $4.1 billion increase recorded in just the past month.
Jacobs emphasized that the favorable election results for crypto-friendly candidates have contributed to this growing interest, as more investors recognize Bitcoin as a strategic asset for mitigating geopolitical uncertainties and combating currency depreciation exacerbated by inflation. With ETFs simplifying the understanding of Bitcoin’s price dynamics, it’s evident that mainstream interest in cryptocurrency is approaching a critical turning point.