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The surge in Bitcoin’s price has made it a $1 trillion asset again and boosted the broader crypto market by more than $2 trillion (as Tesla billionaire Elon Musk and famed investor Warren Buffett both say it’s actually the “true currency”). ” Is).
Now, as traders brace for an “unprecedented” Wall Street earthquake, the price of these tiny cryptocurrencies has left Bitcoin’s price in the dust – with some declaring them “free money.”
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BlackRock’s spot bitcoin exchange-traded fund (ETF) described as “Godzilla-big” as it surges ,
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Bitcoin price surge sparked by Wall Street giants led by $10 trillion asset manager BlackRock
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“BlackRock is Godzilla—big,” said Bloomberg Intelligence ETF analyst Eric Balchunas. Posted To X in response to a question about BlackRock’s performance. “With massive distribution, a trusted brand and they are well known in the trading world (dozens of their ETFs make over $200 million per day) so it’s not surprising they are diverging in volume. “
The hype around Bitcoin ETFs has spread to smaller cryptocurrencies, with top ten cryptocurrencies Solana, an Ethereum rival, and meme-based Dogecoin rising 15% and 30% respectively in the last 24 hours. Dogecoin is up 50% since this time last week.
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Bitcoin price has almost erased 2022 price declines, helping Ethereum, Solana prices. ,
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Dogecoin’s Solana-based memecoin rival Bonk has surged 26% in the past 24 hours, taking its weekly gains to 75%.
Elsewhere, cryptocurrencies tied to artificial intelligence, including Fetch.ai, Arweave and the controversial WorldCoin launched by OpenAI chief executive Sam Altman, have seen double-digit percentage increases in recent weeks. Arweave is up 130% over the past seven days while Worldcoin is up 250% since the beginning of February.
“This is free money,” told a WorldCoin user in Germany who was issued some cryptocurrency in exchange for having his eyes scanned. dlnews, WorldCoin has faced a privacy backlash in some countries, with governments including Kenya and India unhappy with the approach of harvesting people’s biometric data in exchange for cryptocurrency.
The AI crypto boom has been turbo-charged by chipmaker Nvidia, which reported revenue of $22 billion last week, up nearly 270% from the same period last year and on top of Wall Street’s already skyrocketing expectations. was broken because its chief executive praised AI. -LED computing “tipping point.”
