Institutional Bitcoin adoption is reaching new heights – and that’s a big statement given its TradFi appeal in recent years.

The world’s largest asset manager, BlackRock, has accumulated 12,500 Bitcoin over the last three days, marking a $1.16 billion investment. It’s $IBIT spot Bitcoin exchange-traded fund (ETF) saw a $193.5 million inflow on 22 April, $643.2 million on 23 April, and $327.3 million on 24 April.

This comes on a backdrop of market-wide institutional Bitcoin interest, with Cantor Fitzgerald recently entering a $3 billion joint venture with SoftBank Group and Tether to form a Bitcoin acquisition company called Twenty One. The company is expected to follow Michael Saylor’s Strategy playbook and build a long-term Bitcoin stockpile using convertible bonds and equity financing.

An institutional rush for Bitcoin is unfolding, and it’s benefiting the broader crypto market. With this in mind, what are the best crypto to buy now?

BTC Bull Token

While the world’s largest institutions race for Bitcoin ownership, smart money retail traders are riding the bullish wave with BTC Bull Token. It’s a Bitcoin-themed meme coin that will distribute real Bitcoin rewards to holders.

Holders will benefit from the high growth potential of an emerging meme coin while passively earning an asset revered among TradFi leaders.

The project tracks Bitcoin’s price and runs airdrops at key milestones, starting at $100K and then with every $50K increase after that. 

Something else that makes this project stand out is that it’s currently undergoing a presale. This means that investors who buy now can join on the ground floor, which could present serious upside potential.

Smart money traders like ClayBro and Umar Khan have revealed they’re investing in the project.

So far, the presale has raised $4.9 million, illustrating strong market appeal. If this demand is anything to go by, the $BTCBULL price could rocket once it hits exchanges.

Stacks

Stacks is another way that users can earn yield on their Bitcoin. It’s a Bitcoin layer 2 blockchain offering cheaper and faster transactional throughput and smart contract functionality.

It’s the last part that really has people interested. While Bitcoin is purely for transactions, Stacks’ smart contract functionality makes it akin to Solana or Ethereum, except with Bitcoin-grade security and decentralization.

Various decentralized applications (dApps) on the network allow users to generate native Bitcoin yield, which is a major advantage over using wrapped Bitcoin on other blockchains.

As such, Stacks is proving a favorite among Bitcoin holders and institutions seeking to compound their holdings. Decrypt recently published an article highlighting that SNZ, UTXO Capital, and Jump Crypto were among the first institutions to onboard to Stacks.

Stacks has been the best-performing top 100 crypto today with a 21% gain. This is primarily due to rising Bitcoin interest, which signals that Stacks could continue performing well in the months ahead.

Chainlink

Chainlink is a decentralized oracle provider that aggregates off-chain data on-chain. It does so quickly, securely, and in a tamper-proof way, making it suitable for mission-critical tasks such as providing pricing data.

Most blockchain-based dApps use Chainlink’s services, which gives it a monopoly over the oracle market. 

This means that rising adoption of Bitcoin and other digital assets strengthens Chainlink’s potential and could contribute to its continued growth in the months ahead.

As such, Chainlink has proved the second-best performing top 20 crypto this week with an 18% gain. However, it remains 71% below its 2021 all-time high (ATH), leaving plenty of room for growth.

Injective Protocol

Injective Protocol is a layer 1 blockchain focused on decentralized finance (DeFi). 

BlackRock CEO Larry Fink highlighted the benefits of DeFi in his annual letter to BlackRock investors, explaining, “Decentralized finance makes markets faster, cheaper, and more transparent.”

In addition to Bitcoin, institutional players are increasingly paying attention to DeFi applications and how they can help bolster earnings. Injective is an ecosystem that specializes in just that – it has a range of lightning-fast DeFi apps and AI integrations to make generating yields even more efficient.

The project also has multi-virtual machine compatibility, integrating with Ethereum, Cosmos, and Solana.

For institutions, Injective offers tokenized solutions, regulatory compliance, white label DeFi modules, and much more.

It also has deflationary tokenomics thanks to its auction and burning initiative, which helps ensure sustainable price growth in line with the platform’s adoption.

The post Best Crypto to Buy as BlackRock Acquires $1.16 Billion Bitcoin appeared first on NFT Evening.