BlackRock, which is known to be the world’s biggest asset manager, is delving into the world of cryptocurrencies. Just six months ago, BlackRock’s CEO made some criticising remarks about Bitcoin. However, we typically see a trend with companies changing their minds when they see how lucrative the global crypto market is.The asset management firm has a net worth of about $6.3 trillion! The company has been determining whether they want to invest in BTC futures and ways to get more visibility with blockchain technologies and other cryptocurrencies. Departments in the company will also be looking into how competitors are investing in the crypto market and whether their ventures propose a threat to BlackRock’s market share. Goldman Sachs, another asset management company, has already set up help desks to assist their clients with having access to the nascent asset class. The CEO of BlackRock, Larry Fink, made statements six months ago saying that “Bitcoin is an index of money laundering”. However, he did have positive things to say about blockchain technologies, and since then has had his company do some research on cryptocurrencies and how they will be investing in the industry in the near future.

Leave a Reply