Earlier this week, international asset management firm BlackRock Inc. indicated a shift in their stance on digital currencies and bitcoin (BTC) futures. THe U.S.-based firm, which houses the 10th-largest hedge fund in the world, highlighted a change in the views of CEO Larry Fink, according to Crypto Daily.
Fink, who previously believed that digital currencies like BTC were simply speculative and best left as an asset for criminals and those interest in money laundering, has since appeared to have left the door open to the possibility that his company might get involved in the space. Below, we'll explore what this news from BlackRock might mean for other mainstream financial institutions, and why the company's new ideas have some analysts predicting a bull run by institutional investors.
Considering that BlackRock is one of the largest asset management firms in the world, they may be in a perfect position to inspire other institutional investors to become interested in the digital currency space as well.
Perhaps more exciting for the cryptocurrency enthusiast, though, is the possibility that BlackRock will be one of a growing number of institutional investors to begin to explore the digital currency world.
Source: https://www.investopedia.com/news/blackrock-bitcoin-interest-could-set-bull-run/