Bitcoin has reached a new milestone, breaking the $42,000 mark and surpassing both Tesla and Berkshire Hathaway in terms of market capitalization. With a market cap of $818 billion, Bitcoin has become one of the top ten assets globally. This surge in value is attributed to the optimism surrounding the upcoming halving event and the possibility of a spot ETF for Bitcoin. Industry experts, such as Blockstream CEO Adam Back, predict that Bitcoin could reach $100,000 before the next halving. However, some caution against speculative guessing in an unpredictable market. Major financial institutions like BlackRock and Fidelity Investments are working towards securing regulatory approval for their spot Bitcoin ETF applications. These institutions are proposing solutions to address concerns over market manipulation and broker-dealer registrations. Internationally, Bitcoin has also made headlines, with El Salvador’s President Nayib Bukele claiming that the country’s Bitcoin investment has been profitable. However, data contradicts this statement as the price of Bitcoin has withdrawn. At the time of writing, Bitcoin’s value has retracted to $41,955, representing a 5.45% increase over 24 hours.

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Information	Details
Geography	Global
Countries	🇸🇻
Sentiment	very positive
Relevance Score	1
People	Adam Back, Nayib Bukele
Companies	BlackRock, Berkshire Hathaway, Fidelity Investments, Tesla
Currencies	Bitcoin
Securities	None