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Bitcoin adoption is outpacing the internet and mobile phones – BlackRock

A recent report by BlackRock highlights that Bitcoin's adoption is surpassing that of previous transformative technologies such as the internet and mobile phones. Factors contributing to Bitcoin's evolution include demographic trends, economic shifts, and the ongoing digital transformation of finance. Younger generations, known as "digital natives," are more inclined to embrace Bitcoin, while trends like rising inflation and concerns over traditional banking systems have highlighted the value of Bitcoin as a decentralized asset. The maturation of digital asset infrastructure has also made Bitcoin more accessible and created new use cases. The report suggests using BlackRock's spot Bitcoin exchange-traded fund (ETF), IBIT, as a means to gain exposure to Bitcoin. IBIT is currently the largest spot Bitcoin ETF and has seen significant inflows. BlackRock recently launched a new Bitcoin ETF in Cboe Canada. Meanwhile, other asset managers like Vanguard have taken a different approach to Bitcoin. Independent analyst Sam Callahan noted that Paragon Advisors allocated $21.7 million to IBIT in their portfolio, demonstrating a growing interest among registered investment advisers.

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