Have you ever heard of BlackRock? Chances are you have as they are the world's largest asset manager with more than 7.4 trillion under its management. However, new information released on Wednesday states that BlackRock has authorized the purchasing of bitcoin futures in two of its funds. This move is significant for both cryptocurrency and BlackRock as it allows exposure to a new market for many.
- The two funds that will be able to purchase bitcoin derivatives and more are BlackRock Strategic Income opportunities and BlackRock Global Allocation Fund.
- Additionally, BlackRock's chief investment officer, Rick Rieder, made positive statements for bitcoin's involvement for the long term.
Despite the large increase of institutional investors into bitcoin, we continue to see false headlines and fear-mongering. If institutional investors such as BlackRock are confident enough to make these changes and statements, why are we not seeing more confidence? It seems like the more that big money continues to become involved, the more they tell us not to. Whatever you believe, always do your own research and planning to fit your investing needs and goals. As always, thank you for reading, and I hope to see you back.
