BlackRock, one of the world’s biggest investment firms, snaps up $10 million BTC in preparation for spot ETF approval. BlackRock is the largest asset manager on the market, with $9.42 trillion in assets in its portfolio. With this move, the company made a strong case for becoming the first one on the market to offer crypto ETF. The upcoming ETF approval will have a huge impact on the Bitcoin price and associated tokens like BTCMTX.
BlackRock Snaps Up $10 Million BTC Amidst Spot ETF Speculation
The move, although surprising for some, has been publicized well in advance. Back in December, BlackRock announced its plan to buy $10 million worth of BTC and use it to seed a spot Bitcoin ETF as soon as the U.S. Securities and Exchange Commission (SEC) gives its approval. The company even filed an amendment to its registration statement for a spot exchange-traded fund seeded with Bitcoin with the SEC. The filing was made in October, pending the market conditions.
One important distinction to bear in mind is that seeding doesn’t equal ETF launch. BlackRock, or any other company that plans on starting a spot Bitcoin ETF, still has to wait for the SEC approval, which should be coming this month. Only then can the official launch happen. It is worth noting that, judging by all the noise surrounding it, that approval is as good as in the bag.
Is Bitcoin About to Boom?
The incoming SEC approval for crypto ETFs will have a tremendous effect on Bitcoin’s price. As more and more companies announced their plans to start their ETFs seeded with cryptocurrencies, analysts agree that Bitcoin is about to boom. According to some, ETFs will be the biggest game-changer in the crypto market we have seen in ages. They will open up a whole new market sector and attract billions in institutional money, currently locked up in various hedge funds and investment companies. It will be a major step towards Bitcoin becoming a real player in the world of international finances.
Traditionally, when Bitcoin goes off on one of its rampages, the rest of the crypto market follows. We can expect that a lot of cryptocurrencies will follow suit and start pumping, but some are in a better position to benefit from the BTC boom than others. Bitcoin Minetrix (BTCMTX) is one such project, designed to help people mine Bitcoin more efficiently. The token is poised perfectly to profit from BTC pump and most analysts believe that it has the capacity to hit 100x gains in the near future.
Bitcoin Minetrix Offers a Better Way to Mine Bitcoin
The anticipated Bitcoin boom will also affect tokens like Bitcoin Minetrix, the upcoming BTC cloud mining platform. Designed to cut costs and offer an eco-friendly mining solution, Bitcoin Minetrix has the potential to completely change the way we mine Bitcoin.
Its innovative Stake2Mine technology offers a fair chance for everyone to participate in Bitcoin mining. Dispensing with expensive mining rigs and astronomical power consumption, the new platform allows users to stake their BTCMTX tokens and receive non-tradeable ERC-20 tokens in return. These can be burned to get mining credits, which allow users to mine Bitcoin.
This approach ensures that the entire process is fully transparent and that everybody can compete under the same terms, something the cloud mining sector has been missing so far.
Since the procedure is simple and straightforward, users don’t need to have any specialized knowledge or skills to make it work. This is a huge step toward the full democratization of Bitcoin mining and a massive upgrade over the existing solutions.
Holders who stake their tokens will receive not only mining credits but a portion of mining profits as well. This makes Bitcoin Minetrix an excellent passive income source, something a lot of users will greatly appreciate.
Bitcoin Minetrix Presale Surpasses $8 Million
Currently in presale, the app’s native token BTCMTX has raised more than $.8.1 million so far. The incredible interest from both investors and users alike is a testimony enough of just how the Bitcoin Minetrix concept is. However, analysts expect that once the platform goes live, its popularity will skyrocket.
With the presale drawing to an end, the clock is ticking for investors who still haven’t secured a piece of the BTCMTX pie for themselves. Once it is over, the token will start appearing on selected crypto exchanges, at which point we can expect a massive pump, securing a huge ROI for early investors.
Can Bitcoin Hit $100,000?
The question on everyone’s lips is whether Bitcoin can hit $100,000 in 2024. Unfortunately, there isn’t a sure answer to that, as we have to consider many factors. What most experts agree is that the chances of that happening are fairly high. The incoming halving in April and the expected BlackRock Bitcoin ETF approval are two of the biggest reasons why many investors are betting that the OG crypto will set a new all-time high this year and maybe even break through a $100k milestone.
This is great news not only for Bitcoin holders but also for people who decide to invest in BTCMTX. The skyrocketing BTC price will have a huge effect on all projects associated with it and Bitcoin Minetrix is one of those that stand to gain the most from Bitcoin’s surge. It is no wonder that the BTCMTX presale is going so well, with investors scrambling to get in on the ground floor of this promising altcoin.
Conclusion
With BlackRock snapping up $10 million BTC to seed its Bitcoin ETF, there is hardly any doubt what the SEC’s decision on approving spot exchange-traded funds. The news is enough to Send Bitcoin booming, with several other tokens following suit. Chief among them is Bitcoin Minetrix, a Bitcoin cloud mining platform expected to explode as soon as its presale ends.
Share
