Blackrock Creates Crypto team To Evaluate Opportunities
The institutional interest in the crypto market has been on the rise lately. While the interest has been high for the whole year, it has been even higher in the past few months. Institutional investors are the major players of any market and they have huge money supplies to invest in the market.
While the price of Bitcoin and cryptos alike has been seeing a tough bear market, the underlying and careful investment of the institutional investors is enough to put a floor under the bear market and do not let Bitcoin go down the drain.
According to reports from Zerohedge, Blackrock has formed a team to take advantage of the crypto market and the blockchain technology, which is a huge development. More of this move can be seen as Switzerland’s securities exchange in Zurich is creating a platform for digital assets and billionaires like Steve Cohen are entering the game.
All these investors can make a huge difference in the market when the next Bitcoin rally starts (possibly after the ETF is approved).
Blackrock Enters The Game
In case you are not familiar with the traditional financial market, Blackrock is basically the world’s largest asset manager. The company has about $6.3 trillion USD in assets, an incredible amount. While its CEO, Larry Fink, has affirmed some time ago that cryptos are speculative platforms and that they are heavily used for money laundering, it looks like the company might start to be interested.
Why? Because everybody is. Bitcoin has been receiving so much institutional investment that, at this point, it is not highly probable that it will sink any further. It will possibly grow a lot in value, especially when you consider that Bitcoin is currently facing a very harsh bear market.
You just need to look at companies like JP Morgan, Fidelity, CME and even Blackrock to understand that the future of Bitcoin will be bright.
Should you invest your money in Bitcoin right now? It would be irresponsible to say so, as Bitcoin is a very emergent asset and has many speculative forces behind it, but if you got some money to spare, you could seriously do worse than investing in the top crypto of the market right now because even if it crashes again, there will probably have another rally first.