TechFlow news, October 31 — According to CoinDesk, Darius Sit, co-founder and chief investment officer of Singapore-based crypto trading firm QCP Capital, said BlackRock's entry into the crypto space will have a greater impact than the U.S. presidential election.
Sit noted that while support from Trump might cause short-term market volatility, BlackRock’s Bitcoin ETF has already brought cryptocurrencies into the mainstream investment arena. He emphasized that when BlackRock CEO Larry Fink publicly referred to Bitcoin as a "store of value" on CNBC, it marked a significant elevation in the status of cryptocurrencies within the U.S. investment market.
Furthermore, Sit stated that although Trump has pledged to promote more crypto-friendly policies during his campaign, the actual potential for global market growth remains to be seen. It is reported that QCP has recently expanded its operations in Abu Dhabi, where regulators recognize digital assets as part of the capital markets, providing a stable business environment.
