Bill Miller IV Sees 1% of $60T Retirement Funds Lifting Bitcoin Price by $30K; BlackRock Leads With $2.4B Fund and Largest BTC Holdings

Billionaire investor Bill Miller IV has projected that allocating just 1% of the $60 trillion in global retirement funds to Bitcoin could increase the cryptocurrency’s price by $30,000, describing a 2% allocation as conservative. This highlights the potential impact of institutional capital on Bitcoin’s market value. In parallel, Cantor Fitzgerald increased its Bitcoin exposure by $120 million in the second quarter, adding to the growing institutional interest. BlackRock is leading the tokenized fund space with its $2.4 billion BUIDL fund, and its CEO Larry Fink stated that the Bitcoin exchange-traded fund (ETF) is the fastest-growing ETF in history, reflecting surging investor demand. BlackRock’s iBit fund has also become the largest known Bitcoin holder excluding Satoshi Nakamoto, currently holding approximately 781,000 BTC, surpassing Coinbase’s 703,000 BTC and Binance’s 558,000 BTC holdings. These developments underscore the accelerating institutional adoption and growing market influence of Bitcoin.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.