BlackRock Could Move Into Bitcoin Which Might Start An Institutional Bull Run
Jul 16, 2018
According to reports out today, international asset management firm, BlackRock Inc, have changed their stance with regards to cryptocurrencies such as Bitcoin, and opportunities within Bitcoin Futures too.
BlackRock Inc are a United States based asset management firm, home of the 10th largest hedge fund in the world with an asset management portfolio equating to around $6.288 Trillion.
The reports are pointing towards comments from Larry Fink, the CEO of BlackRock Inc who up until recently has been very much against cryptocurrencies. Fink formerly used to believe that cryptocurrency and Bitcoin were simply a speculative product. Fink believed that cryptocurrency was simply an asset for criminals, good for money laundering and nothing more. This came from the principle that Bitcoin was anonymous and able to span across borders, making it an international asset for criminals.
However, according to The Daily Express (UK), a spokesman from BlackRock has said:
“Like most financial institutions, BlackRock has a working group that meets periodically to exchange information on blockchain and consists of employees from various parts of the business. We have been looking at blockchain technology for several years, recognising potential for shared processes and data across market participants, clearing, settlement and reconciliation and simplified securities issuance.”
You can see the full report for yourself, here.
With Fink heading BlackRock, we can only assume that he has indeed changed his tune and is becoming more open to cryptocurrency as a result of the promise provided by blockchain technology.
Now we must consider that BlackRock are a huge asset management firm, as a matter of fact, they are in a perfect position to encourage institutional investment, investment that could in turn really boost the price of Bitcoin and thus, the rest of the markets.
At the very least, what we have here is a firm with an awful lot of money, exploring the potential behind Bitcoin which going forward, could lead to some very big changes indeed. For now, we need to await on some official comments from Fink, though as it stands this news is not only legitimate, it’s also very exciting too.
Will BlackRock be the firm that leads and institutional charge into the markets? It’ll only take one company to make the first steps, after that, the competition will follow and the markets will welcome a whole new world of investment.
Japan’s Line Launch BITBOX Exchange, But It Won’t Be Available In The USA Or Japan
UK Mosque Opens Its Doors To Cryptocurrency And Raises £14,000.00 For Charity