How BlackRock exploited the COVID-19 pandemic

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BlackRock Asset Manager ...

BlackRock Asset Manager Ripe For Bitcoin Investment
CONTENT

  • BlackRock Tells SEC It Plans To Invest In Bitcoin

  • BlackRock is the world’s largest asset manager

  • The company manages assets worth $ 8 trillion

International consortium of news organizations, developing transparency standards.

According to data presented on the official website of the US Securities and Exchange Commission (SEC), BlackRock plans to enter the cryptocurrency market

Two applications filed by an investment company with a regulator indicate BlackRock is ready to buy bitcoins.

Chief Investment Officer, BlackRock Inc. Rick Reader said in a recent interview that Bitcoin is more functional than gold.

BlackRock meets Bitcoin

The latest filings on the SEC website mention bitcoin. The documents dated January 20, 2021 state:

“Each fund can use instruments called derivatives, which are financial instruments based on the value of one or more securities, commodities (such as gold or oil), currencies (including bitcoin)”.

Source: SEC website

BlackRock recently released its global outlook for 2021, which suggests the company is changing its investment focus. It says:

“We see the need for a fundamental rethinking of investment portfolios – starting this year”.

Other cryptocurrencies or digital assets are not mentioned in the investment company’s applications. Apparently, BlackRock Inc. wants to enter the cryptocurrency market through bitcoin futures.

Blackrock is looking for a blockchain specialist

A month after the aforementioned interview with Reader, BlackRock started looking for a blockchain specialist. The company wants to hire someone who understands the fundamental principles of blockchain and knows how their value is generated..

In other words, BlackRock has been slowly but surely moving towards the cryptocurrency industry for some time now. BlackRock is the world’s largest asset manager with a combined value of $ 8 trillion.

For comparison: Grayscale has only $ 27.78 billion in assets under management.This is negligible compared to the multinational investment of the New York international giant..

In the footsteps of Grayscale

In 2020, institutional investors began to gradually pay attention to cryptocurrencies and invest their funds in them..

BlackRock Asset Manager ...

At the beginning of 2021, Bitcoin experienced a massive price jump amid massive demand from large players.

Grayscale Investments remains the industry leader. Positioning itself as an expert in investment in digital currencies, Grayscale aggressively buys bitcoin in the spot market.

The company recently acquired 16,244 bitcoins for $ 590 million. Thus, it has 632,760 bitcoins at its disposal in the amount of $ 23.15 billion..

Grayscale has shown unprecedented growth over the past year, but other investment companies are gradually entering the new market.

BlackRock Asset Manager ...

The total cryptocurrency market capitalization has recently surpassed $ 1 trillion due in large part to the influx of institutional money.

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