### Bitcoin Price Soars Amid Trump's Victory and BlackRock's Strategic Moves

Bitcoin and other cryptocurrency prices have experienced a notable surge this week, largely influenced by traders reacting positively to Donald Trump's decisive U.S. election victory. This development is pushing the $100,000 bitcoin price target into sight.

This upward momentum in bitcoin's value throughout 2024 can be attributed to Trump's favorable stance on bitcoin, expectations of Federal Reserve interest rate cuts, and anticipated stimulus measures from China. Additionally, the growing involvement of Wall Street in the crypto market has been a significant factor.

Intriguingly, a recent leak has disclosed that BlackRock, the world's largest asset manager, is negotiating to acquire a stake in Millennium, a leading holder of spot bitcoin exchange-traded funds (ETFs). Sources indicate that Millennium holds nearly $2 billion across five spot bitcoin ETFs, including a substantial near-$800 million stake in BlackRock's IBIT bitcoin fund.

Larry Fink, BlackRock's CEO, has been a vocal proponent of bitcoin and other cryptocurrencies. Fink's vision for integrating bitcoin, ethereum, and crypto into broader financial markets was laid out during BlackRock's third quarter earnings call, where he predicted a merging of these assets with artificial intelligence. He emphasized bitcoin as an asset class comparable to commodities like gold and spearheaded efforts to bring a comprehensive spot bitcoin ETF to U.S. markets last year.

Recent market activity has been remarkable. On Thursday, BlackRock's IBIT experienced record net inflows of $1.1 billion, surpassing its previous record of almost $900 million set in late October. This influx of capital has further strengthened bitcoin's position within the investment community.

Caroline Bowler, CEO of BTC Markets, noted the broader implications of this surge. She highlighted a substantial 300% increase in user logins on BTC Markets and forecasted continued inflows into both exchanges and ETFs. Bowler suggested that this trend might lead to increased market volatility and potentially trigger a feedback loop where rising ETF inflows could push bitcoin prices even higher, thereby attracting more investment. This activity points towards bitcoin's evolving perception as a core investment asset rather than merely a speculative one, possibly signaling the start of a prolonged period of heightened activity in the crypto market.