1 Cryptocurrency I'd Buy Right Now
After a fast start to the year, Bitcoin (CRYPTO: BTC) has been in a holding pattern of late, unable to break decisively above the $30,000 mark. While Bitcoin is still up 79% for the year, it is actually down 2% over the past 30 days.
But even with this recent sluggishness, Bitcoin is the one cryptocurrency I'd buy right now. There's a lot happening behind the scenes with Bitcoin, and I like what I see. Here are three factors that I think make Bitcoin a compelling buy right now.
One of the biggest catalysts for Bitcoin is the potential for a massive influx of new money from institutional investors. In mid-June, for example, BlackRock Inc. (NYSE: BLK), the largest asset manager in the world, announced plans for a new spot Bitcoin ETF. That was followed up by similar spot Bitcoin ETF applications from other investment firms, including Ark Invest and Fidelity Investments. It's really now just a matter of when, not if, such a spot Bitcoin ETF gets approved by the SEC, and that's when the new influx of institutional money could start to happen.
Source Fool.com
Blackrock Inc. Stock
With 17 Buy predictions and not the single Sell prediction the community is currently very high on Blackrock Inc..
As a result the target price of 852 € shows a slightly positive potential of 6.13% compared to the current price of 802.8 € for Blackrock Inc..
