Bitcoin back above $19K on S&P Dow Jones inclusion
Bitcoin continues to gain investors and regulators confidence amid hopes that the largest digital asset would play a big role in global financial markets.
The global head of innovation and strategy of S&P Dow Jones Peter Roffman says cryptocurrency indices are likely to introduce in the next year. Peter Roffman believes surging investor interest enhanced the need for dependable pricing data.
“With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable, and user-friendly benchmarks. We’re excited to work with Lukka, who has been at the forefront of digital asset data services, to promote more transparency in this nascent sector,”
BlackRock’s bullish commentary supporting bitcoin price
The price bounced back in the past few days, with expectations that the largest digital coin is likely to breach the previous all-time high that it had set on Monday. Bitcoin is currently above the $19,200 levels after dipping to $17K this week.
BlackRock CEO Larry Fink claims that the prospects are high about Bitcoin’s evolution in the global market in the days ahead. The CEO of the largest investment firm says the asset class is still small despite remaining in headlines over the past couple of years.
“Having a digital currency has a real impact on the U.S. dollar,” Fink, who has grown BlackRock into the world’s largest money-management company with around $7 trillion in assets under management, told attendees of a Council on Foreign Relations digital symposium, adding digital currencies such as bitcoin are making the U.S. dollar “less relevant.”
North American investments are backing the 2020 rally
Reuters reported that the latest rally is driven by investments from the United States. The previous rally in fiscal 2017 was supported by Asian investors. The report shows that North American users grew almost 7,000 times this year while East Asia exchanges saw net outflows of 240K coins in November.