The capital managers are not much bigger than BlackRock, which is reportedly the largest company in the world with over $ 6 trillion. Today the news has appeared that this colossus is looking at the cryptic space.
According to the financial news in London, BlackRock has created a task force to investigate the ways in which the investment firm can enter the sector. The team will be composed of various experts from the departments within the company, including the investment strategy guru Tim Simpson according to insiders.
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To cite people familiar with the case, the report said that BlackRock will look to the competitive landscape in order to make decisions about whether to invest in Bitcoin futures. CEO Larry Fink told Bloomberg last year that he believed in cryptography courses, but he still considered them a vehicle for speculation and money laundering.
A spokesman for BlackRock said the company has been studying blockchain technology for several years. However, the report has not been confirmed and the company has not yet announced and official press release.
The markets reacted this morning and Bitcoin is trading more than 3% more of the day at $ 6.535. The pump was started an hour ago when the BTC went from $ 6,370 to $ 6,530, this month’s biggest tip. Trading volume rose from $ 3 billion this time yesterday to $ 4.5 billion at the time of writing.
Cryptographic markets have long been good news because bears have reluctantly pushed them down in the last six months. When big giants of institutional investments begin to gain interest in space, it is a way to legitimize digital currencies and consolidate their position in global financial markets.
BlackRock news will be welcome when the week starts and some of these losses in the last few months can be recycled. It is not clear yet if we have reached the bottom and a new hausseamt rally can resume the cryptic corners in the second part, but today’s news would be a good starting point.
Jane Castro is a journalist and media enthusiast. She graduated from the University of Bacolod in the Philippines. She loves skating, scuba diving, and archery on her free time.