Bitcoin (BTC) Price Soars to 13-Month High: Possible Reasons

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Bitcoin (BTC) Price Soars to 13-Month High: Possible Reasons
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Bitcoin surges to $31,400, then the price corrects a little. $BTC

in the $13,415 zone. By now, BTC has slumped but is growing again, changing hands at $31,117 per unit on the Bitstamp crypto exchange.Earlier today, the CEO of the world's largest fund manager BlackRock, Larry Fink, called Bitcoin an international asset and drew parallels between BTC and gold. He proclaimedIn the middle of June, BlackRock surprised the crypto market by filing a request with the SEC to register its own Bitcoin ETF.

However, since BlackRock has a strong record with the SEC, now, after a refiling was submitted, the Bitcoin community began praising the fund manager for its intention to expand Bitcoin exposure. BlackRock's filing was followed by a slew of other large Wall Street companies submitting their requests to the regulator with the same purpose.

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