S&P Weekly Update

This week, we are looking at Bitcoin. Recently, Blackrock (BLK.N), an asset manager that holds over $9 trillion dollars filed for an ETF. This is pretty big news, and if approved, would boost the price of Bitcoin—currently at $25,628— exponentially. Since bitcoin is at a fairly low price right now, and has major finance institutions looking to invest a lot of money, right now would be a great time to buy at a discounted price. The only road bump Bitcoins bright future faces, which could potentially end the idea of a Blackrock ETF, is the SEC. The SEC gets to decide if the Bitcoin ETF is approved, which they keep pushing the decision back. Either way, right now would be a good time to buy Bitcoin because the price will go up regardless long term. Also, with the announcement of the BRICS currency that will rival the US Dollar, (in reality it won’t, it will just scare people) people will want to put their money in something with potential and tangible value.

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