Bitcoin is a legitimate financial asset that offers new opportunities, says BlackRock chief executive officer Larry Fink.
What does this mean for other cryptocurrencies like Bitcoin Dogs (0DOG)?
Bitcoin is a legitimate financial asset, Larry Finks says
While the Blackrock CEO acknowledges his previous skeptical stance around Bitcoin and crypto, he says he’s learned about what it is. In this case, Fink sees his opinion from five years ago as having been “wrong” about Bitcoin.
Fink shared his latest comments on cryptocurrencies during a recent interview with CNBC. He noted:
“As you know I was a skeptic, I was a proud skeptic… But here’s my opinion today: I believe Bitcoin is legitimate, I’m not saying there isn’t some abuse here and there like everything else, but it is a legitimate financial instrument.”
According to the BlackRock CEO, Bitcoin offers a chance for investors to add an asset that allows for uncorrelated returns.
It’s a view that is increasingly taking shape across Wall Street and crypto is now a major part of most portfolios. As well as being bullish on BTC, investors are eyeing the benchmark asset’s related ecosystem projects – the burgeoning decentralized finance and layer 2 network.
Is Bitcoin Dogs an opportunity amid BTC adoption?
Bitcoin Dogs is one of the projects attracting a lot of attention in this space. Having launched the first BRC-20 token ICO on Bitcoin, the project’s market debut has come amid fresh interest in Bitcoin DeFi, gaming and NFTs.
0DOG, the native Bitcoin Dogs cryptocurrency, allows holders to participate in this markets while benefitting from overall opportunities available to crypto investors.
Bitcoin Dogs combines the meme element and a play-to-earn model, with traction coming as another ecosystem explodes on Telegram.
This suggests a potentially multi-pronged catalyst scenario for 0DOG price – the Bitcoin adoption curve, DeFi and NFTs and the P2E market across Bitcoin L2s and the Telegram mini-app space.
As part of Bitcoin Dogs’ key roadmap milestones, these features are also what could catalyse further momentum for Bitcoin Dogs.
Bitcoin Dogs plans massive 0DOG burn
Also adding to the price outlook and potential upward momentum for Bitcoin Dogs, is the scheduled burn for 0DOG tokens.
In a recent post, Bitcoin Dogs points to the 0DOG burn on September 24, 2024 as a major milestone.
🚨ANNOUNCEMENT 📣
🔥 Time to shove a firework up a puppy’s butt—not literally, dawg, but it’s time to see your #0DOG set alight and skyrocket! 🚀🔥
A major burn is coming 24/09/24, and you won’t want to miss out!
The more we burn, the higher the value of your tokens. 🌡️
Time… pic.twitter.com/BfflUTpQMP
— BitcoinDogsClub (@BitcoinDogsClub) September 17, 2024
Notably, burning removes coins from circulation – opening up 0DOG to potential price spikes. This could mean the current price just above $0.01 may be a huge opportunity to buy low. Currently, Bitcoin Dogs trades on Gate.io, MEXC and Uniswap.
Bitcoin Dogs price
0DOG has struggled in the market since its listing on major exchanges, particularly as Bitcoin price hit resistance below $60,000.
After breaking above the $60k amid flip in investor sentiment around upcoming interest rate cuts, BTC went on to reach highs above $61,200. Prices are back below $60k, but crypto analysts remain largely bullish.
Meanwhile, Bitcoin Dogs price is up nearly 56% after a recent pump following a dip to new lows. An opportunity to buy low means 0DOG price could yet rally alongside BTC and altcoins.