Bitcoin Surges Past $67,000, Just 8% Away From All-Time High, as BlackRock CEO Endorses Cryptocurrency as a Viable Asset Class
The price of Bitcoin has surged past $67,000, closing in on its all-time high set in March. The record-breaking milestone came after BlackRock CEO Larry Fink officially recognized Bitcoin as a distinct asset class, comparing it to gold. Fink stated that his company was discussing potential Bitcoin allocations with institutions worldwide.
As of now, Bitcoin’s market cap has reached $1.3 trillion, reflecting its growing prominence and acceptance in financial circles. The cryptocurrency is currently trading at around $67,400, showing a 3% increase over the past 24 hours.
The surge follows a notable 5% gain the day before, which came amid the strong performance of US spot Bitcoin ETFs. On Monday, these funds collectively drew in around $550 million in net inflows, according to Farside Investors data.
The upcoming US election has also fueled market sentiment. Analysts suggest that if Donald Trump secures a victory, it could further boost the crypto sector, contrasting with Kamala Harris’s more conservative stance on digital assets.
Recently, the Trump-backed World Liberty Finance (WLFI token) presale raised $5 million in the first hour, despite website issues. The project’s success highlights the potential impact of Trump’s involvement in the crypto sector.
Source: [Crypto Briefing](https://cryptobriefing.com/bitcoin-election-surge-analysis/)
