Crypto News Digest from U.Today

Here are the top three news stories from the crypto world over the past day:

Bitcoin Price Forecast and ETF Potential
According to a report by Matrixport, a crypto financial service platform, Bitcoin (BTC) could reach highs of $56,000 in the long term if BlackRock, the world’s largest investment bank, successfully gets its Bitcoin spot ETF approved. Matrixport analysts suggest that while a conservative estimate sets the price around $42,000, an influx of approximately $50 billion from Registered Investment Advisors (RIAs) interested in the BlackRock iShares ETF could push Bitcoin to $56,000. They emphasized that BlackRock’s entry into the Bitcoin ETF market could serve as a significant catalyst for the SEC to expedite the approval process.

Tesla Halts Crypto Transactions
Tesla, the well-known electric vehicle manufacturer, has reported in its quarterly financial results that it did not engage in any Bitcoin transactions during Q3 2023. This marks the fifth consecutive quarter of inactivity in Bitcoin trading for the company. Tesla’s Bitcoin holdings remain at around 9,720, valued at approximately $275.6 million. The company’s decision to step back from Bitcoin transactions coincides with a strategic shift focusing on cost reduction per vehicle, enhancing delivery volumes, and maintaining a commitment to investments in artificial intelligence and growth initiatives.

Vitalik Buterin’s Focus on AI Developments
Vitalik Buterin, co-founder of Ethereum, recently participated in an AMA session on the decentralized social platform Warpcast. He mentioned that he has been contemplating artificial intelligence and how the Ethereum community might engage with AI-related issues. Notably, he raised concerns about existential risks, which refer to threats that could cause significant harm to humanity on a global scale. Buterin’s insights suggest a potential future integration of AI with Ethereum’s developments in the mid- to long-term horizon.