Will Trump's Presidency Ignite a Bitcoin Surge? BlackRock's Bold Predictions for 2024!

Bitcoin is poised for a significant rise under the leadership of President-elect Donald Trump, according to Samara Cohen, Chief Investment Officer of BlackRock's ETF division. In a recent interview on CNBC’s “ETF Edge,” Cohen expressed confidence that cryptocurrency deregulation will lead to another historic year for Bitcoin.

“There will be progress made on… FIT21 [‘Financial Innovation and Technology for the 21st Century Act]. There will be progress made on stable coins. There will be progress made just on definitions in taxonomy,” Cohen stated.

Cohen is at the helm of the iShares Bitcoin Trust (IBIT), which has seen a remarkable 114% increase since its January 2024 debut, and an 8% rise year-to-date. This comes on the heels of Bitcoin briefly trading above $100,000 this week.

However, despite this strong performance, Cohen cautions that cryptocurrency investors should be prepared for volatility. “Bitcoin is a risky asset. So, 15% in the context of Bitcoin is not an enormous move. Investors should expect volatility,” she remarked. She believes that the long-term price of Bitcoin will be driven by the level and pace of adoption.

On Monday, BlackRock officially launched its iShares Bitcoin ETF on CBOE Canada. Furthermore, Calamos Investments is also making a significant move into the cryptocurrency space with plans to launch the Bitcoin Structured Alt Protection ETF, touted as the “world’s first 100% downside protected bitcoin ETF” just two days after Trump’s inauguration.