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The world’s largest asset manager with almost $9 trillion in assets under management, Blackrock, has started investing in bitcoin. Sharing his view on what’s driving up the price of the cryptocurrency, the firm’s chief investment officer says the technology and the regulation have evolved to where people find bitcoin should be part of their portfolios. … Read more
“Holding some portion of what you hold in cash in things like crypto seems to make some sense to me,” said Rick Rieder. Go to Source Powered by WPeMatico
Larry Fink said he was fascinated with the media hype surrounding Bitcoin, but expressed concerns about the crypto asset’s volatility and market size. Go to Source Powered by WPeMatico
Blackrock, the world’s largest asset manager with $7.81 trillion under management, is getting into bitcoin. The firm has filed with the U.S. Securities and Exchange Commission (SEC) for two of its funds to invest in bitcoin futures. Blackrock Gets Into Bitcoin Blackrock filed two “statements of additional information” with the SEC on Wednesday. One was … Read more
Investors are in it for the long run, locking 270,000 BTC away over the last 30 days. Go to Source Powered by WPeMatico
Investment banker Ellie Frost has put out a Twitter thread showing that four of Microstrategy’s top 10 shareholders had already been bullish on bitcoin before Michael Saylor company’s big dive into the digital asset. According to Frost, Microstrategy did not have much convincing to do, as top shareholders Blackrock, Russell Investments, Renaissance Tech, and Citron … Read more
The rise of bitcoin is hurting the gold market and may continue to do so for many years to come as institutional adoption grows, according to JPMorgan Chase & Co strategists. Led by Nikolaos Panigirtzoglou, the strategists noted the declining inflow of funds allocated to gold exchange-traded funds (ETFs) since October, as flows into bitcoin … Read more
Shapeshift CEO Erik Voorhees believes any asset manager who is ignorant of Bitcoin “needs to seriously check their premises.” Go to Source Powered by WPeMatico
Well before the coronavirus pandemic, global economists expected a grim-looking American economy and during the last ten months of the Covid-19 outbreak, the U.S. financial system looks even worse. Economists and analysts say the biggest concern is the U.S. dollar faltering into the unknown, as a great number of distinguished individuals believe the USD will … Read more
In mid-August the U.S. stock market defied odds and mainstream media claimed after the Standard & Poor’s 500-stock index touched new heights on August 18, it ‘officially’ ended the “shortest bear market in history.” Interestingly while roughly 30 to 40 million Americans face the risk of eviction, the 16th Chair of the Federal Reserve, Jerome … Read more