(BTC) might reach $56,000 in response to a BlackRock ETF trigger.
In a recent analysis, the team at Matrixport, a platform for crypto financial services, indicated that the long-term price of bitcoin might rise to $56,000. These probabilities are predicated on the possibility that the largest investment bank in the world, BlackRock Inc. (NYSE:BLK), will approve the Bitcoin spot ETF. Although the analysis defines a cautious estimate as $42,000, Matrixport analysts anticipate that Bitcoin may increase to $56,000 with an influx of about $50 billion from Registered Investment Advisors (RIAs) that may support the BlackRock iShares ETF offering. They also referred to BlackRock’s participation in the Bitcoin ETF contest as a “game-changer” and a crucial factor in the SEC’s hasty approval of the ETF product.
According to a quarterly financial report, Tesla (NASDAQ:TSLA) suspends its cryptocurrency operations.
The renowned electric vehicle juggernaut Tesla recently released its quarterly financial. According to the company’s documents, Q3 2023 saw no Bitcoin purchases or sales, making it the fifth consecutive quarter in which Tesla avoided doing active BTC transactions. The company’s total Bitcoin holdings at the end of Q3 2023 were about 9,720, valued at about $275.6 million. Tesla’s decision to hold off on Bitcoin transactions is in line with a significant change in its overall business objectives. The company highlighted cost savings per truck, maximizing delivery volumes, and a continuing commitment to investing in AI and growth projects when summarizing its key goals in the report.
Vitalik Buterin, co-founder of Ethereum, reaffirms plans for AI
, co-founder of Ethereum, participated in an AMA session on the decentralized social network Warpcast three days ago. Buterin said that for the past few weeks, he has been considering AI and whether or not the Ethereum community might effectively engage in AI-related topics when asked what he is thinking about most of the time. X-risk, a notion that shows how humanity can be hurt on a significant, global scale, is one of the challenges he addressed. So, Buterin’s statement alludes to a potential mid- to long-term integration of his invented AI.