Bitcoin

According to the CEO of Blackrock, Bitcoin is an unproven asset in a “very small market”.

Just a week after the asset manager Blackrock seems to be preparing to invest in bitcoin futures, CEO Larry Fink has some mixed messages about cryptocurrencies.

In an interview with Bloomberg today Fink se referenced in Bitcoin (BTC) as a volatile asset in “a very small market”. The CEO’s comments continued the fascination with Bitcoin’s media coverage as the “The asset category is so small compared to other asset categories.”.

“”[Bitcoin] It could be another store of wealth, but it has yet to be proven at this point, “said Fink. “It has great volatility and moves in increments of 5 to 6%, with small investments in dollars moving it.”.

According to the CEO of Blackrock, Bitcoin is an unproven asset in a “very small market”.
According to the CEO of Blackrock, Bitcoin is an unproven asset in a “very small market”.

Added:

“Long-term profitability has not yet been demonstrated. Some kind of digitized currency will play a bigger role in the future, and it could be Bitcoin. It can be something else that has evolved. “

Other investment manager executives have apparently made more optimistic comments. In November, Rick Rieder, Blackrock’s chief investment officer, said, “Bitcoin is here to stay.” and that the cryptoasset is likely “would largely take the place of gold”.

BlackRock is indirectly involved in Bitcoin through its stake in the business intelligence company MicroStrategy. The company made an initial investment of $ 425 million in the cryptoasset last summer and has since added thousands more BTC to its holdings.

However, Blackrock may be exploring the possibility of getting more directly into the crypto room. Two potential filings for two of Blackrock’s funds were posted on the US Securities and Exchange Commission website last Wednesday. Both mentioned the possible use of bitcoin derivatives and other assets as part of their investment plan. However, when the investment firm entered the Bitcoin futures market, none was final.

At the time of publication Bitcoin’s price is $ 30,734 after falling 4% in the last 24 hours.

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