In the last seven days, Bitcoin has gone up by 10.50%, following a series of significant gains across the week. Most notably, the largest crypto asset surged by 7% on Monday following the emergence of fake news on the approval of the BlackRock iShares Bitcoin Spot ETF.
As expected, this price gain drew a plethora of reactions from various crypto enthusiasts and analysts.
In particular, Larry Fink, the CEO of BlackRock, stated in an interview with Fox Business that the BTC surge was partially due to the fake news of the spot ETF approval but also because of a growing demand for an investment safe haven.
According to Fink, the increasing geopolitical tensions – citing the ongoing Israel-Palestine conflict – have created uncertainties driving investors to traditional assets such as gold, but also crypto assets.
The BlackRock CEO describes this trend as a “flight to quality.”
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