Bitcoin (BTC) has emerged as a preferred investment alternative, with its price surging over 25% in the past two weeks to surpass $35,000. This surge comes against the backdrop of mixed earnings from big tech stocks causing instability in the stock market. Predictions suggest that BTC might soon breach the $40,000 mark.
The rise in Bitcoin's price coincides with its increasing acceptance by institutions worldwide and multiple applications for Bitcoin ETFs by traditional finance houses. These developments indicate Bitcoin's transition into a less volatile growth phase, reinforcing its credibility in times of stock market turbulence.
In related news, Block Inc.'s platform SQ, which facilitates Bitcoin transactions, is projected to see a 69% earnings growth rate this year. This forecast aligns with the recent rally in Bitcoin and underscores the growing institutional interest in cryptocurrency as a hedge against stock market volatility.
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