BlackRock ETF will be ‘big rubber yes stamp’ for Bitcoin: Interview with Charles Edwards
Bitcoin (BTC) stands to win huge thanks to the BlackRock exchange-traded fund (ETF), investor and expert Charles Edwards believes.In his latest interview with Cointelegraph, Edwards, who is creator of quantitative Bitcoin and digital possession fund Capriole Investments, goes deep into the existing state of BTC price action.With his previous bullish declarations continuing to stand the test of time, and after an eventful couple of months, Edwards does not see the need to change the long-lasting perspective.Bitcoin, he argues, may be less of a sure bet on shorter timeframes, however the overarching narrative of crypto ending up being a recognized international asset class certainly remains.Cointelegraph (CT): When we last spoke in February, Bitcoin rate was around $25,000. Its 50% more difficult to mine Bitcoin, theres 50% more competition and as an outcome 33% less relative BTC earnings for miners.Through 2022 there were delays and backlogs in worldwide mining hardware shipping for numerous months; we likely have actually seen that backlog flush out in the very first half of the year with the large hash rate uptick. What followed was a huge +350% return, seven-year bull run.Essentially the Bitcoin ETF is just another goalpost on the path to broad regulatory acceptance and facility of Bitcoin as a severe property class.
Bitcoin (BTC) stands to win big thanks to the BlackRock exchange-traded fund (ETF), financier and expert Charles Edwards believes.In his newest interview with Cointelegraph, Edwards, who is founder of quantitative Bitcoin and digital property fund Capriole Investments, goes deep into the current state of BTC price action.With his previous bullish statements continuing to stand the test of time, and after an eventful couple of months, Edwards does not see the requirement to change the long-term perspective.Bitcoin, he argues, may be less of a sure bet on shorter timeframes, however the overarching narrative of crypto becoming a recognized international property class unquestionably remains.Cointelegraph (CT): When we last spoke in February, Bitcoin price was around $25,000. Bitcoins hash rate is up 50% since January– thats over 100% annualized development rate. Its 50% more difficult to mine Bitcoin, theres 50% more competition and as a result 33% less relative BTC profits for miners.Through 2022 there were hold-ups and backlogs in international mining hardware shipping for many months; we likely have actually seen that stockpile flush out in the very first half of the year with the large hash rate uptick. BlackRock ETFs have a 99.8% success rate and its announcement to launch a Bitcoin ETF was basically a regulative and monetary industry green light. What followed was a huge +350% return, seven-year bull run.Essentially the Bitcoin ETF is just another goalpost on the pathway to broad regulatory acceptance and facility of Bitcoin as a serious asset class.