Investors Across Different Wealth Tiers View Bitcoin as a Hedge

Bitcoin has continued its upward momentum, surpassing the $100,000 mark. A significant portion of the demand driving Bitcoin’s price increase has recently flowed into Bitcoin ETFs. Jay Jacobs, Head of Thematic and Active ETFs for BlackRock in the U.S., stated that since its launch in January, the value of the IBIT ETF has grown to over $45 billion, with an increase of $4.1 billion in just the past month. Jacobs noted that, in addition to the victory of a more crypto-friendly candidate in the election, an increasing number of investors from different wealth tiers are viewing Bitcoin as a hedge against geopolitical risks and inflation-induced currency devaluation. As ETFs provide an easy way for investors to access Bitcoin price movements, it is only a matter of time before mainstream market interest in cryptocurrencies reaches a critical point.