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Bitcoin sets new records
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Bitcoin sets new records

Feb 14, 2024

Bitcoin continues to set record figures on Wall Street, thanks to the popularity of spot Bitcoin ETFs from BlackRock and Fidelity, which are attracting significant attention from institutional investors. Mark Vlosinsky, a well-known crypto commentator, noted that these funds have gathered assets amounting to $3 billion in just 30 days, setting a historical record for growth speed among all ETFs.

This interest in spot Bitcoin ETFs indicates broad institutional recognition of BTC as a viable asset class, despite previous skepticism from leading Wall Street figures. The SEC's approval of spot Bitcoin ETFs marked a shift in the investment landscape, confirming the growing legitimacy and appeal of cryptocurrency to a wide range of investors.

According to Lookonchain, Fidelity and Ark21 alone acquired an additional 6,822 BTC, highlighting increasing demand and potential for further Bitcoin price growth. Given the current interest in spot ETFs and Bitcoin's potential to test the $50,000 mark, there is potential for reaching new highs, possibly even surpassing the previous record of nearly $70,000.

This growth underscores a significant change in market sentiment and strengthens Bitcoin's position as a central element in investors' portfolios, offering new opportunities for market participants amid increasing institutional recognition and integration into traditional financial systems.

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