Major bitcoin miners are signaling their support for the network’s Taproot upgrade. Institutional buyers are loading up on BTC puts, Deribit analysts say. Goldman Sachs thinks the “digital yuan” could be in a billion hands in a decade.
A top BlackRock executive, in charge of where the world’s largest asset manager invests its fund, said that bitcoin could take the place of gold, because it is “so much more functional than passing a bar of gold around.” Appearing on CNBC’s Squawk Box, BlackRock CIO of Fixed Income Rick Rieder also said, “I think cryptocurrency’s here to stay, I think it is … durable.” While this is a vote of confidence of digital payment systems, and a leading bitcoin “narrative” as an inflation hedge, Rieder said he’s not particularly a bitcoin bull and doesn’t include it much in business and corporate portfolios. Further, it’s not clear if bitcoin is worth its current price of