BlackRock Explores Possible Investment in Bitcoin
According to reports, BlackRock has been trailing Bitcoin to observe and decide if the company wants to invest in the cryptocurrency or not. BlackRock previously reported that it was in charge of more than $6 trillion investor assets on a global scale.
An investment service provider, BlackRock is one of the leading investment firms around. Among the company’s clientele includes businesses on Wall Street, private investors, and others. Part of BlackRock’s vital services is to expand on its client’s assets, essentially adding to their value and wealth through special attention to many individuals, including doctors and teachers.
In recent news, the company is creating a team to discuss its approach to Bitcoin and how it can leverage the unprecedented hype behind the currency and its technology. Many investment and Bitcoin bulls like Julian Hosp, co-founder of TenX, are confident in the fact that the currencies next upward climb are just waiting for a proper instigator to come along. For example, should a new big-time investor enter the cryptosphere, this could significantly contribute to its rise in price.
Blackrock is among the most distinguished and elite investment companies today. Given its reputation and the trillions of assets under its supervision, the company’s interest in Bitcoin may possibly pave the way for cryptocurrencies and their legalization as well as its founding technology, blockchain.
As it stands, BlackRock has generally disapproved of Bitcoin. JPMorgan, a rival company, as well as many others, are constantly debating on how to manage and handle Bitcoin and its current effect on the world. Many have looked down on Bitcoin, convinced it’s sort of scam designed as a new approach for criminal activity. Larry Fink, the company’s own head chief executive officer, claimed Bitcoin was only used by criminals to launder money.
Currently, Bitcoin and the idea of investing in the coin is under discussion since more major rival companies like SIG have joined the cryptosphere. Bitcoin shows no sign of a potential fizzle as it continues expanding to several services, servers, and applications globally. Bitcoin is consistently being adopted by industries and companies all around the world. The NYSE, as well as Nasdaq, are also two other leading figures debating Bitcoin and possible future trading platforms of their own.