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Blackrock Enters Ecosystem With An Investment In Cryptocurrencies

ByKarol Kowalski

Feb 23, 2021

BlackRock enters the ecosystem with an investment in cryptocurrencies. The world’s largest investment manager is already part of the cryptocurrency market.

BlackRock Financial Management added to corporate interest in the crypto market, a trend that has remained constant since the end of 2020. Rick Rieder , chief investment officer (CIO) of the financial company, suggested that they have invested in cryptocurrencies , although he did not give details on any significant operation.

The businessman recognized the growing interest of investors in Bitcoin (BTC) despite its volatility, and slipped that the company ” has started to venture a bit ” in the crypto market. The appreciation of the price in the midst of a growing inflationary context – as he explained – has made digital assets attractive.

Keeping a piece of what you have in cash in things like crypto seems to make some sense to me.

Reider highlighted the evolution of blockchain technology (responsible for the decentralized market for BTC and other altcoins) and regulations on the market . However, he stressed that he does not agree with establishing a certain allocation within the investment portfolios.

On CNBC, the CIO was consulted about BlackRock’s filings with the United States Securities and Exchange Commission (SEC) , where he anticipates that it will include BTC in its operations, but did not mention figures or percentages in this regard .

Rieder’s comments follow those of the firm’s CEO, Larry Fink , who suggested two months ago that the leading cryptocurrency would possibly evolve into a global market in the medium term .

BlackRock stands out as the world’s largest fund manager, managing assets totaling $ 8.6 billion . His interest in the market is consistent with that of many finance companies and banks in recent weeks, who consider that ignoring digital assets is lagging behind in financial innovation.

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