South Korea Unveils Record $597 Billion 2027 Budget to Boost AI and Chips 
MediaTek Shares Jump 10% on Nvidia’s $3.5 Billion Investment 
Pinterest Stock Falls as CFO Julia Brau Donnelly Resigns 
PayPal Shares Sink as $50 Billion Takeover Bid Collapses 
South Korea, US Discuss Chip Investments Amid Tariff Plans 
US Tech Giants’ AI Bond Boom Raises Euro Zone Borrowing Risks 
Deutsche Telekom Shares Rise as Elliott Pushes Against T-Mobile Merger 
ByteDance Secures $29.6 Billion Loan to Boost AI Investment 
Texas Republicans Turn Against AI Data Centers as Election Backlash Grows 
Nvidia Pauses AI Cloud Financing Deals Amid Antitrust Concerns 
Xiaomi Shares Jump on Europe EV Expansion Plan 
Microsoft to Reveal Azure Revenue in Major Reporting Shake-Up 
SpaceX Mobile Network Could Cost Up to $130 Billion, Bernstein Says 
Faraday Future Delivers First Robots in Middle East, Plans September Launches 
Anthropic Nears $15 Billion Credit Deal Ahead of IPO 
MongoDB Stock Sinks 14% as Atlas Growth Misses Expectations 
Lenovo Shares Fall After Dropbox Security Breach Exposes ID Vulnerability 
Add as a preferred source on Google
Bitcoin’s value could increase in the coming days as the world’s biggest asset management firm, BlackRock, changed its tune regarding the cryptocurrency. Last year, BlackRock CEO Larry Fink said that Bitcoin was only “speculative” and its value merely comes from it offering anonymity, Express reported.
“The reason why it does so well is it is anonymous. It’s anonymous, and it’s cross-border. I don’t know why it has so much fascination for the press,” Fink previously stated.
However, the sentiment has now changed and BlackRock is reportedly finding ways to leverage Bitcoin and investigating what its competitors are doing with it. Moreover, the firm is also trying to figure out how to shape the investment landscape in the coming years, indicating that it's planning to enter the Bitcoin market in the long term.
That is good news for the cryptocurrency as longstanding support is among the major reasons that will dictate the survival of Bitcoin on the market, especially when bearish trends are currently persisting. As of this writing, Bitcoin is currently trading at $6,362, increasing its value after dropping to $6,180 last Friday. The top 10 cryptocurrencies are also seeing green at the moment with the exception of Tether.
The BlackRock shift can potentially spark more interest from other potential investors, which means Bitcoin’s value is projected to spiked in the coming days. Institutional investors have been touted as some of the biggest factors that can propel Bitcoin to stellar valuation.
Fundstrat strategist and crypto bull Tom Lee said that if institutional investors finally commit their support to Bitcoin, then the cryptocurrency’s price will spike to $25,000, more than its record figure in December 2017 which saw Bitcoin trading at more than $19,000. Of course, none of these are certain and time will only tell if Bitcoin’s value will indeed explode to new heights. Right now, observers of the crypto market are optimistic about this new development.
