BlackRock Predicts Bitcoin Surge Under President-elect Donald Trump
According to BlackRock’s ETF chief, Samara Cohen, Bitcoin is poised to experience a significant surge under the presidency of Donald Trump. Cohen believes that cryptocurrency deregulation will play a crucial role in propelling Bitcoin to new heights in the coming year.
Cohen, who serves as the firm’s ETF and index instruments chief investment officer, expressed confidence in Bitcoin’s potential for another historic year. She highlighted the anticipated progress in areas such as the Financial Innovation and Technology for the 21st Century Act (FIT21), stable coins, and taxonomy definitions as key drivers for Bitcoin’s growth.
BlackRock’s iShares Bitcoin Trust (IBIT), managed by Cohen, has seen impressive performance since its launch in January 2024, with a 114% increase in value and nearly 8% growth year-to-date. The recent milestone of Bitcoin briefly surpassing $100,000 further underscores the cryptocurrency’s upward trajectory.
Despite the positive outlook, Cohen cautioned investors about the inherent risks associated with Bitcoin. She emphasized the need for resilience and a long-term perspective, noting that volatility is a common feature of the cryptocurrency market.
BlackRock recently announced the official launch of its iShares Bitcoin ETF on CBOE Canada, signaling the firm’s commitment to expanding its presence in the cryptocurrency space. Additionally, Calamos Investments is set to introduce the world’s first 100% downside protected Bitcoin ETF, the Bitcoin Structured Alt Protection ETF, in the wake of Trump’s inauguration.
As the cryptocurrency market continues to evolve and attract mainstream interest, the role of institutional investors like BlackRock and Calamos Investments will be instrumental in shaping Bitcoin’s future trajectory.
