Unverified Blackrock ETF News Sends Bitcoin Soaring
In the world of cryptocurrencies, a piece of false information caused a significant surge in the market. It was reported that Blackrock’s spot bitcoin ETF had been approved, leading to a rapid increase in Bitcoin’s price from $27,700 to $29,900. However, this news turned out to be entirely unfounded. Fox News reporter Eleanor Terrett confirmed that Blackrock had labeled the news as “false” and clarified that the application was still under review.
Blackrock reiterated this statement to The Block, emphasizing that the ETF application was still pending approval from the securities regulator. Bloomberg ETF expert James Seyffart called Cointelegraph’s social media post “fake news” as he couldn’t find any supporting evidence.
Cointelegraph Faces Backlash
In response to the controversy, Cointelegraph has taken down the social media post and amended their Telegram message. They have also added the word “reportedly” to their statement. After the false news circulated, Bitcoin briefly reached nearly $30K but dropped below $28K once the truth emerged. Now, the question is how a legitimate approval will impact the markets.
Cointelegraph Apologizes and Investigates
Cointelegraph issued an apology for disseminating inaccurate information about the Blackrock Bitcoin ETF. They stated that an internal investigation is underway and promised to share its findings with the public within three hours.
Hot Take: Lessons Learned from False Blackrock ETF News
The incident involving the false news about Blackrock’s Bitcoin ETF highlights how easily misinformation can affect cryptocurrency markets. This incident serves as a reminder for investors to verify information from reliable sources before making investment decisions. It also emphasizes the need for responsible journalism within the crypto community to prevent the spread of false information. While the impact of a legitimate approval is yet to be seen, it is crucial for market participants to exercise caution and diligence in assessing news and its potential consequences.
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