Forbes: Wall Street Quietly Prepares for a Surge in Bitcoin and Cryptocurrency Prices

BlockBeats reported on May 6 that, according to Forbes, the price of Bitcoin has rebounded to around $95,000 after dropping to a low of $75,000 in April. A rare Bitcoin price prediction by Trump's cryptocurrency head, David Sacks, surprised traders. Now, as Bitcoin surges towards what BlackRock calls a "geopolitical fragmentation superpower" impact, a leaked message reveals that Wall Street firms are quietly betting on a Bitcoin price increase driven by Trump.

Sources revealed that a trading team at Tower Research Capital has "increased capital allocation to crypto trading ledgers" and upgraded its cryptocurrency market-making infrastructure. With the Trump administration promising to open Bitcoin trading and cryptocurrency market access, Wall Street is quietly ramping up support for Bitcoin and cryptocurrencies, removing restrictions from the Biden era, and accelerating legislation that will reshape the financial system.

Last week, Wall Street giants managing a total of $10 trillion in client assets are expected to "launch Bitcoin business" this year, allowing advisors to recommend Bitcoin ETFs to clients for the first time. Robert Mitchnick, BlackRock's head of digital assets, stated in a recent Bitcoin and cryptocurrency conference panel discussion: "The inflow of funds is returning on a large scale."