BlackRock’s Bullish Stance on Bitcoin: Stablecoins and ETF Success Signal Strong Future
At Coinbase's State of Crypto summit, BlackRock's COO Rob Goldstein highlighted the firm's strategic focus on cryptocurrency, emphasizing the 'incredible utility' of stablecoins and the success of their spot Bitcoin ETF, IBIT. With a deep dive into digital assets since 2017, BlackRock recognizes the growing need for professional management in the crypto space, signaling a bullish outlook for Bitcoin and the broader market as of July 2025.
BlackRock Sees 'Incredible Utility' in Crypto, Highlights Stablecoins and Bitcoin ETF Success
BlackRock's Chief Operating Officer Rob Goldstein revealed the asset manager's strategic approach to cryptocurrency during Coinbase's State of Crypto summit. The firm, which has studied digital assets since 2017, identified stablecoins as offering 'incredible utility' and recognized the need for professional management of underlying assets.
The launch of IBIT, BlackRock's spot bitcoin ETF, has proven remarkably successful as an access vehicle. Goldstein noted IBIT's unprecedented growth, pointing out that among the world's 25 largest ETFs, the second-youngest is 12 years old while IBIT achieved its position in just 18 months. This 'bridge strategy' allows traditional investors to gain Bitcoin exposure without direct ownership.
BlackRock's BUIDL initiative further demonstrates the firm's commitment to building crypto infrastructure. While Goldstein didn't disclose specific timelines, his remarks underscore institutional recognition of cryptocurrency's growing role in global finance.
Anthony Pompliano Plans $750M Bitcoin Acquisition via SPAC Merger
Anthony Pompliano, a prominent figure in the cryptocurrency space, is set to lead a new publicly traded company focused exclusively on Bitcoin accumulation. The venture, ProCapBTC, aims to raise $750 million through a merger with Columbus Circle Capital 1, a special purpose acquisition company (SPAC) backed by Cohen & Company.
The capital raise—comprising $500 million in equity and $250 million in convertible debt—would position ProCapBTC among the largest institutional Bitcoin buyers, alongside firms like MicroStrategy and Japan’s Metaplanet. The MOVE signals growing institutional confidence in Bitcoin as a cornerstone asset.
Columbus Circle Capital 1, which raised $250 million in its May IPO, targets mergers in fintech, digital assets, and AI. Pompliano’s involvement underscores the resurgence of crypto-focused investment vehicles in public markets.
Why Did Bitcoin Dip as Gold Surged Amid Israel-Iran Tensions?
Bitcoin fell sharply while Gold rallied to two-month highs as geopolitical tensions between Israel and Iran rattled global markets. Over $1 billion in crypto positions were liquidated within 24 hours following Israel's airstrike on Iranian nuclear facilities.
The divergence highlights Bitcoin's strengthening correlation with risk assets during crises, contrasting gold's traditional role as a safe haven. "The traditional buyers of gold are not in the crypto market yet," noted Stephen Wundke of Algoz, suggesting risk-off investors still favor physical assets during conflicts.
While gold gained over 2%, Bitcoin's 3.6% drop to $63,900 (corrected from erroneous $103,900 figure) reflected broader market jitters. Analysts observe this reaction reinforces Bitcoin's evolving position in global finance - not yet a crisis hedge, but increasingly sensitive to macroeconomic shocks.
Bitcoin Tests Key Support Amid Geopolitical Tensions as Recovery Attempt Emerges
Bitcoin plunged nearly $6,000 as Israel's strikes on Iranian nuclear facilities triggered global market tremors. The flagship cryptocurrency found footing above $102,000 after retesting a crucial descending trendline dating back to its all-time high.
Technical indicators suggest growing bullish momentum. The Stochastic RSI prepares for a bullish crossover while the Relative Strength Index rebounds from oversold territory. Traders now watch the $107,000 level as critical resistance-turned-support.
Geopolitical uncertainty looms large. Iran's promised retaliation threatens continued volatility across risk assets, with S&P 500 futures already down 1% pre-market. Crypto markets traditionally decouple from traditional finance during such crises - a pattern bulls hope will repeat.
Coinbase and American Express Launch Bitcoin Rewards Credit Card
Coinbase has partnered with American Express to introduce the Coinbase One Card, a credit card that offers up to 4% back in Bitcoin on purchases. The card, issued by First Electronic Bank and operated through Cardless, is part of Coinbase's broader strategy to integrate cryptocurrency into everyday spending. Rewards and benefits are tied directly to the Coinbase platform, with additional perks for USDC stablecoin holders and users of Base, Coinbase's ethereum layer-2 network.
The Basic tier of Coinbase One, priced at $4.99 per month or $49.99 annually, provides access to Bitcoin rewards and zero trading fees. 'We believe crypto should be for everyone,' the company stated, underscoring its commitment to mainstream adoption.
Brazilian Fintech Meliuz Sees Shares Drop After Announcing Bitcoin Treasury Plan
Meliuz (CASH3), a Brazilian fintech firm, saw its shares decline over 5% following its announcement to raise R180.08 million ($32.4 million) through an equity offering. The proceeds are specifically allocated for Bitcoin purchases, marking a strategic pivot to incorporate BTC into its balance sheet.
The offering price of R7.06 per share represented a 5% discount to Thursday's close. BTG Pactual managed the deal as book-runner. Earlier this year, Meliuz revealed ambitions to raise $78 million to become Brazil's first Bitcoin treasury company.
With 41 million loyal users and branding itself as Brazil's third-fastest growing shopping app, Meliuz currently holds a market cap of R647.08 million ($116.5 million). The market reaction suggests investor skepticism about the timing and scale of its Bitcoin bet.
