The SEC’s recent approval of options trading for BlackRock’s iShares Bitcoin ETF marks a significant step in institutional Bitcoin adoption.
This new financial tool allows investors to hedge risks more effectively, boosting confidence in the cryptocurrency market.
With growing institutional interest, some analysts predict that Bitcoin could reach the $100,000 mark in 2024, further strengthening its position as a leading asset.
SEC Approves Options Trading for BlackRock’s iShares Bitcoin Trust
The U.S. Securities and Exchange Commission (SEC) has approved the listing and trading of options on BlackRock’s iShares Bitcoin Trust (IBIT). This allows investors to manage and hedge their Bitcoin exposure through these new options.
The SEC has approved options on Blackrock's $IBIT.
#OptionsTrading #Bitcoin pic.twitter.com/fG3J7xyPjN
— Larrell Stennett (@lrrllstnntt) September 20, 2024
The options will follow U.S. exercise methodology, meaning they can be physically settled and exercised before expiration. Strict monitoring will ensure compliance and prevent market manipulation, similar to other ETF options.
- Physically settled options
- Exercise available before expiration
- Enhanced market compliance
JUST IN: BlackRock's Spot #Bitcoin ETF Receives Options Approval from SEC
The SEC has officially granted accelerated approval for the listing and trading of options on the iShares Bitcoin Trust (IBIT) through Nasdaq ISE. pic.twitter.com/7C7kTY7gg4— Cointelegraph (@Cointelegraph) September 20, 2024
This approval marks a significant step in Bitcoin’s integration into regulated markets, boosting institutional confidence and potentially increasing Bitcoin demand.
MicroStrategy Boosts Bitcoin Holdings with $458M Purchase, Eyes $1B Total
MicroStrategy has expanded its Bitcoin (BTC) holdings, purchasing 7,420 BTC for $458.2 million between September 13 and 19, 2024, at an average price of $61,750. To fund the acquisition, the company increased its initial $700 million convertible note offering to $1.01 billion.
MicroStrategy now holds 252,220 BTC, valued at over $16 billion, acquired at an average price of $39,266 per BTC.
#ICYMI: MicroStrategy raises $1 billion via latest debt offering, reveals it bought 7,420 Bitcoin this week
Read the full articlehttps://t.co/N7jp9n34F0 pic.twitter.com/IUscihZvks
— CryptoSlate (@CryptoSlate) September 20, 2024
Under CEO Michael Saylor, MicroStrategy continues to lead corporate Bitcoin adoption, signalling plans to purchase more. While the company’s stock dipped 1.5%, this reflects broader market trends.
- Total BTC: 252,220
- Average Price: $39,266 per BTC
- Purchase funded by $1.01B note offering
MicroStrategy’s aggressive Bitcoin strategy strengthens institutional confidence, potentially driving BTC prices higher by reducing available supply.
Trump’s Bitcoin Stunt Boosts Crypto Appeal with Pro-Crypto Stance
Former President Donald Trump made headlines on Free Cheeseburger Day by conducting a public Bitcoin transaction at PubKey, a Bitcoin-themed bar in New York City.
JUST IN:
— Bitcoin Magazine (@BitcoinMagazine) September 19, 2024
During the event, Trump voiced support for a pro-crypto regulatory environment and urged his supporters to vote in November.
Although he once called Bitcoin a “scam,” Trump has now embraced cryptocurrency, raising $25 million in donations, mostly in Bitcoin.
- Trump promises pro-crypto regulatory reforms
- Raises $25 million, primarily in Bitcoin donations
- Pledges to replace SEC Chair with a crypto-friendly leader
In the room where it happens. pic.twitter.com/vlNOWtB1fU
— PUBKEY (@PubKey_NYC) September 18, 2024
Trump’s new crypto stance could boost Bitcoin’s appeal and drive up demand.
Bitcoin Tests Key Resistance at $63,000 Amid Bullish Run
Bitcoin (BTC/USD) trades around $63,000 after hitting an intraday high of $63,546. The price is currently facing resistance near $63,800, which aligns with the upper boundary of the ascending channel.
Immediate resistance stands at $64,154, with further targets at $65,536 and $67,329.
On the downside, immediate support is seen at $62,357, followed by $60,777, where the upward trendline also offers psychological support around $60,000.
The 50-day EMA, positioned at $60,727, is another key technical indicator supporting the current bullish momentum.
The Relative Strength Index (RSI) is at 61.72, having retreated from overbought levels, suggesting a potential bearish correction.
A drop below $62,000 could trigger further downside toward $60,600. However, if BTC holds above $62,000, a bullish rally is likely to continue.
You might also like Bitcoin Price Prediction 2024 – 2034
Why Pepe Unchained ($PEPU) Is a Strong Addition to Your Crypto Portfolio
Among the emerging cryptocurrencies, Pepe Unchained ($PEPU) is gaining rapid attention for its potential to deliver substantial returns to early investors.
Presale Advantage
Investing in $PEPU during its presale phase could yield significant returns, with experts like Jacob Crypto Bury highlighting the benefits of getting in early before the next price hike.
Passive Income Opportunity
The 499% APY staking feature offers an exceptional opportunity to generate passive income, further solidifying $PEPU as a strong player in the crypto market.
Investor Confidence
Already, 321 million $PEPU tokens have been staked, signalling robust confidence in the project’s long-term vision and success potential.
Don’t Miss Out on the Pepe Unchained Presale
- Secure Investment: Thorough audits by Coinsult and SolidProof ensure a secure and transparent investment.
- Easy Purchase Options: Buy using ETH, USDT, BNB, or credit card for convenience.
- Take Action Now: The presale has raised over $14.3 million out of its $14.4 million goal.
Currently, 1 $PEPU is priced at $0.00982, and with the next price increase imminent, now is the perfect time to invest before the cost rises further.
Buy PEPU Here
The post Bitcoin Price Forecast: SEC Approves Options Trading for BlackRock’s ETF – $100,000 BTC Possible in 2024? appeared first on Cryptonews.
