BlackRock opens its doors to receive bitcoin
The company has hinted that it keeps investing a considerable percentage of its portfolio in cryptocurrencies
This Wednesday, BlackRock financial Management’s chief investment officer, Rick Rieder, revealed in an interview conducted by CNBC’s Squawk Box BlackRock’s interest in venturing into cryptocurrencies, ensuring that the company has already invested a percentage of its portfolio in digital assets.
The CEO of the company, reported that with more than USD 8.6 trillion in assets under management BlackRock has “begun to venture a bit” in the crypto market, and although he highlighted the volatility of bitcoin, he currently acknowledged that many investors were looking for “places that appreciate under the assumption that inflation increases as debts accumulate. “
“Keeping a portion of what you have in cash in things like crypto seems to make some sense to me, but it wouldn’t support a certain target allocation or holding,” Reider reported.
The executive also said that from his perception “technology has evolved and regulations have evolved to the point where several people believe it should be part of the portfolio.”
Although the percentage of BlackRock’s assets that will be under management is not known in detail, it is presumed that the company may possibly use bitcoin derivatives in other assets as part of the investment scheme.
K. Villarroel
Source: cointelegraph
