The growth of Bitcoin's value was facilitated by the interest shown by BlackRock in investing in cryptocurrencies??
Immagine di fabrikasimf su Freepik
The news was also leaked due to the discovery of a company deposit of 15 billion dollars in registered Bitcoin futures with the CFTC (Commodity Futures Trading Commission).
BlackRock, one of the world's largest asset managers, has recently announced that it will be adding Bitcoin as an eligible investment in its funds. This decision was confirmed by the discovery of a company deposit of 15 billion dollars in registered Bitcoin futures with the CFTC.
This move represents a major turning point for the cryptocurrency market and for BlackRock itself, which until now had not shown any interest in this type of investment. The decision to invest in cryptocurrencies demonstrates the evolution of the financial sector's thinking regarding digital currencies and their potential as assets.
The Bitcoin has been included in the list of eligible investments for the Global Allocation Fund, a fund that invests globally in equities, debt securities, and short-term instruments of both public and private issuers, without limitations. This means that investors who have chosen to invest in this fund will be able to benefit from the increase in the value of Bitcoin.
Overall, BlackRock's investment in Bitcoin represents another significant milestone in the adoption of cryptocurrencies by large institutional investors, marking greater acceptance and legitimization of digital currencies in the traditional financial world.
To be honest, this news caught me by surprise. I never expected a move like this from BlackRock. In fact, the company had never publicly announced that it was investing in cryptocurrencies, but there had been rumors that it might have some underlying interest.
The news that BlackRock has decided to add Bitcoin as an eligible investment in its funds is a significant step for the cryptocurrency market, as it means that one of the world's largest asset managers has decided to invest in this asset class.
I believe that this move will lead to an increase in interest in the cryptocurrency market in general, but especially in Bitcoin. BlackRock's investment represents a sort of legitimization of cryptocurrencies by the traditional financial world and could lead to an increase in adoption by other institutional investors.
Overall, I can't help but think that BlackRock's move is just the beginning of a series of new investments in cryptocurrencies by big investors. The situation is really getting interesting for the future of crypto and especially for Bitcoin.
In fact, I had read on Twitter that BlackRock had already moved to save some miners who, due to the difficulties of cryptocurrencies, especially Bitcoin, were at risk of bankruptcy. So, if it did this, I think that there was a well-defined goal underneath. Probably, BlackRock sees a great investment opportunity in Bitcoin mining and has decided to support some of the companies operating in this sector. It could be a sign that the company is considering investing more significantly in Bitcoin mining in the future.
After the various crises that have hit cryptocurrency exchange platforms, miners of Bitcoin have also found themselves in difficulty, such as Core Scientific Inc., which has gone bankrupt. However, miners will continue to operate and work thanks to the support of BlackRock. The asset manager has indeed announced that it has loaned 17 million dollars to the American trading company, allowing it to avoid complete failure.
However, we cannot ignore the fact that there are still many uncertain and uncontrollable factors that could influence the cryptocurrency market. In particular, we are concerned about the possibility that states may decide to intervene with overly restrictive regulations that could further harm the market. We hope that government authorities will decide to adopt a more balanced and reasonable approach towards cryptocurrencies.
👉Here I leave you an interesting article where you can learn more about this news
https://www.tradingview.com/news/cryptonomist:6464a228d094b:0/
