With the U.S. presidential election right around the corner, you’d expect crypto traders to be glued to campaign promises, but Darius Sit from QCP Capital says BlackRock’s (BLK) entry into Bitcoin (BTC-USD) is the real headline. “BlackRock has brought crypto from frontier to mainstream,” he stated, according to CoinDesk, noting that BlackRock’s CEO, Larry Fink, openly endorsing Bitcoin as a “store of value” on CNBC is game-changing for crypto adoption.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
BlackRock’s Bitcoin Push Gains Traction
While U.S. regulatory stances remain uncertain, BlackRock’s influence is undeniable. Sit points out that Bitcoin’s integration into mainstream finance, especially through BlackRock’s network, makes it a “cornerstone asset.” Whether Trump or Harris wins, the big move here is Bitcoin solidifying its role in U.S. financial systems, which could inspire a ripple effect globally.
It’s not just the U.S. crypto policies attracting attention. QCP recently expanded to Abu Dhabi, where crypto is seamlessly integrated into capital markets. According to CoinDesk, “digital assets are seen as part of the capital market” in Abu Dhabi. This showcases how global perspectives on crypto are broadening.
At the time of writing, BTC is sitting at $72,285.37.
