“It’s Going To Keep Growing’—BlackRock Just Confirmed A Bitcoin Price Bombshell

Bitcoin has rocketed by 20% over the last week, soaring as Treasury secretary Scott Bessent puts the “fear of god’” into traders.

The bitcoin price has topped $80,000 per bitcoin for the first time since May, kindling hopes among the crypto faithful that the 2026 bear market could be coming to an end.

Now, as Elon Musk’s $40 trillion nightmare suddenly comes true, the world’s largest asset manager BlackRock has revealed its $60 billion bitcoin fund is poised to keep growing.

"It’s going to keep growing because we keep expanding the access," Robbie Mitchnick, head of digital assets at BlackRock, told Bloomberg.

BlackRock, which led the 2023 campaign to bring a full-fledged bitcoin spot exchange traded fund (ETF) to market, has reportedly lowered the minimum bitcoin required for a direct swap into its IBIT fund, down to just $1 million from $25 million previously.

Investors can exchange their bitcoin for BlackRock ETF shares without first selling their holdings, something that would potentially incur capital gains taxes.

Since its launch, BlackRock’s bitcoin fund has become the fastest ETF to reach most milestones, beating all other ETFs in any asset class and now holds just over 765,000 bitcoin worth $60 billion on behalf of investors.