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Crypto July Recap - Top 5 Biggest Stories That You Need To Know
July was an eventful month for crypto and some developments could have a long-term effect on the industry as a whole.
Let’s recap 5 of the most impactful crypto/DeFi moments of the previous month.
1. July 5th: BlackRock CEO calls Bitcoin “digital gold”
In a recent interview with Fox Business, BlackRock CEO Larry Fink called Bitcoin “digital gold”.
He said that Bitcoin can serve as a hedge against inflation and other economic risks. He also pointed out that Bitcoin is an international asset not tied to any specific country or currency.
BlackRock is the world’s largest asset manager, handling over $10 trillion. Fink’s endorsement of Bitcoin could help to legitimize it and attract more institutional investors.
As you probably know, BlackRock recently applied for a Bitcoin spot ETF and is waiting for the Securities and Exchange Commission’s (SEC) decision.
The SEC has so far rejected all applications for a spot Bitcoin ETF. However, Fink said that he believes that the ETF will eventually be approved by the SEC. This would be a major milestone for the cryptocurrency industry.
