Bitcoin Price Skyrockets Past $90,000 as BlackRock and JPMorgan Deepen Bitcoin Bets
Bitcoin surged past $90,000, driven by BlackRock increasing its IBIT holdings and JPMorgan launching a complex structured note tied to the ETF.Summary
The Bitcoin price surpassed $90,000, continuing a sharp rally fueled by increased institutional interest. This surge followed disclosures that BlackRock expanded its stake in its spot Bitcoin ETF (IBIT), now holding over 2.39 million shares. Simultaneously, JPMorgan introduced an aggressive structured note for institutional clients linked to IBIT's future price, offering fixed returns or leveraged upside depending on performance over several years, albeit with significant principal risk if Bitcoin drops substantially. This move highlights a shift in Wall Street sentiment, contrasting with past skepticism from figures like Jamie Dimon, and reflects a broader recovery in the structured notes market, as Morgan Stanley is also exploring similar products. Despite the rally, the market remains volatile, with Bitcoin testing key support levels around $80,000–$83,000.
(Source：Bitcoin Magazine)