BlackRock executive: An increasing number of investors from different wealth levels are viewing Bitcoin as a hedging tool

On December 5th, Bitcoin has been on the rise, breaking through the $10,000 mark. A large part of the funds driving up Bitcoin prices have recently flowed into Bitcoin ETFs.

Jay Jacobs, director of thematic and active ETFs in the United States for BlackRock, said that since its launch in January this year, the value of IBIT ETF has grown to over $45 billion. Just in the past month alone, its value increased by $4.1 billion.

Jacobs stated that apart from more crypto-friendly candidates winning elections, an increasing number of investors across different wealth levels are beginning to see Bitcoin as a tool to hedge against geopolitical risks and currency devaluation caused by inflation. As ETFs become an easy-to-use way for investors to understand Bitcoin price trends, it's only a matter of time before mainstream market interest in cryptocurrencies reaches a tipping point.