In the past months, very influential and famous mega corporations have announced various initiatives concerning the digital economy.
The latest reports show that the biggest asset manager worldwide is hopping into the crypto vision. BlackRock might start Trading Bitcoin for its investors. Currently, the assets under the company’s management are approximately $10 trillion.
Trading Of Cryptocurrencies
As stated by a news outlet, CoinDesk, there are claims that sooner or later, investors would be able to trade digital currencies by going through BlackRock’s platform, Aladdin. This flagship deals with liability, assets, debts, and other investment networks.
News From Anonymous Sources
One anonymous source noted that if the company should go into crypto, a new service might be introduced, allowing clients to borrow funds from the organization using digital assets as collateral. There was no news about when such services would likely be made public. By the way, there has been no official statement from the corporation on the issue.
It would suffice to know that the organization has a massive stake in another giant company, MicroStrategy- the biggest if not the largest investor of Bitcoin in the last decade. Last year, the Executive officer of BlackRock stated that the demand for BTC was not much..
Before that time, the CEO, Larry Fink, issued a warning to investors concerning BTC usage as a trading tool. CME BTC futures were just added to the company’s fund at that time. Well, futures are not similar to BTC. While the former allows you to bet on the price of assets without buying them, the other does not.
According to a different source, the firm is ready to start digital currencies and is looking for gurus in the field. Another source claims that not less than 20 staff are already evaluating these assets intending to see how they could get something out of it.
Also, the organization’s listing as of 2020 showed a vacancy for an executive in the blockchain part of the company. This could be a coincidence, but it could also support the present story. Not only that, in 2021, the company was searching for a blockchain lead strategist for Aladdin.
It seems the mega-corporation is considering going into the crypto market. Of recent, cryptocurrencies, in general, have been witnessing a bullish market. A famous coin, BTC, is trading at the $43,000 range after surpassing resistance at $40,000 weeks back. The crypto market is quite unpredictable; we hope to see how BlackRock allegedly plans to make the best out of it.