ARK Invest founder Cathie Wood thinks BlackRock’s entry into the crypto space could have huge implications for the Bitcoin price action.

"Last week, US-based cryptocurrency giant Coinbase announced that it teamed up with BlackRock, the biggest asset manager in the world, to bring crypto trading to wealthy clients.

Blackrock’s decision to partner with Coinbase is a strong signal that institutions consider bitcoin. Based on ARK’s simulated portfolio allocations, institutional allocations between 2.5% and 6.5% could impact bitcoin’s price by $200,000 - $500,000"

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