BitMEX co-founder warns BlackRock's entry into the crypto space could 'fundamentally change' Bitcoin

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BitMEX co-founder warns BlackRock's entry into the crypto space could 'fundamentally change' Bitcoin

BitMEX's co-founder, Arthur Hayes, warns about BlackRock's entry into the space, but Bitcoin, the world's biggest crypto asset by market capitalization, will trade at $1 million by 2026.

BlackRock's entry into the market could 'fundamentally change' Bitcoin, Hayes said.

Although he acknowledges that spot Bitcoin ETF approval could bring a stream of funds into the cryptocurrency market, the BitMEX co-founder was concerned about its potential impact on traditional finance.

He was asked to describe what happened in the tunnel.

BlackRock is awaiting the SEC's approval of its application, which has been delayed on several filings, including BlackRock's last month.

Despite Hayes' gloomy outlook on BlackRock's entry into the crypto space, he is still optimistic about Bitcoin. By the end of 2026, BitMEX's co-founder predicted that the 'king of crypto' would trade for $750,000 and $1 million.

BTC had a trading loss of $27.261.64 as of Wednesday morning. ET Wednesday, with a 24 hour trading volume up by 12.24% at $14.88 billion, which represents a 1.49% drop in the last 24 hours and a 1.2% loss over the past seven days.

Bitcoin's market cap is $532.16 billion and its total circulating supply is 19,51 million coins, compared to its value down by 1.49% at a $532.16 billion market cap.