🤯🚀BlackRock and JP Morgan crypto bull run leads Bitcoin price in 200,000 direction
The blockchain-based alliance between two of the world's largest financial institutions (BlackRock, which has $8.5 trillion in assets under management, and JPMorgan, which manages $3.8 trillion) reinforces predictions that these former leaders will drive the next Decrypto bull run.
As Forbes recently reported, BlackRock has become the first Wall Street giant to use JPMorgan's new blockchain collateral system. And this discovery comes in addition to BlackRock's October interest in offering a spot bitcoin exchange traded fund (ETF) and JPMorgan's bullish outlook on the near future of bitcoin mining.
Major financial institutions are investing in crypto and laying the foundation for a new Bitcoin price at an all-time high.
"Forbes is predicting that BlackRock and JPMorgan will start the next bull run," George Tung of THESTREETCRYPTO said in the video above. “I think institutions will definitely play a big role in this cycle, at the peak of the cycle, and this can be a good thing. We're talking about trillions, trillions, trillions coming into space, led by BlackRock, Fidelity, Vanguard and even Grayscale and others.”
The increased institutional interest is a clear sign of future price momentum for a number of digital assets, and market conditions, coupled with the long-term trend of bitcoin accumulation, may be ready for the next bull run.
"Currently, these long-term owners are accumulating 50,000 bitcoins per month," Tung said. “Long-term owners are accumulating $ 1.35 billion per month. This is too much... supply is falling, demand is increasing.”
