After Goldman Easing their Stance On Crypto, Black Rock Is Following Suits
According to a story published today on Financial News, ETF giant Black Rock announced the formation of a new division that will asses the potential of crypto trading.
This news comes amidst similar position taken, for instance, by Goldman Sachs, who announced a couple of months ago a similar division forming.
If you're curious, Black Rock manages assets up to 6.3 trillion dollars. At the moment of writing, the entire crypto market cap was just a little over a quarter of a trillion, namely $258 billions.
As always, when I'm hearing about "institutional money coming into crypto", I'm having mixed feelings. On one side I'm happy there's more volume coming in (and, sheesh, these guys do have a lot of money). But on the other, I don't really like some of the practices of the Wall Street guys.
But, who knows, maybe this new playground, crypto-trading, may prove to be a more difficult riddle to solve for them than it looks like.
Apparently, this is the news that made Bitcoin jump around 4% today.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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Mixed feeling indeed it is.
All these events unfolding sometimes get one confused you want to just be on the fence.
Whichever ways, HODL is just the key for now.
Great news for crypto lovers hopefully everything will be good :D
thanks for update. I'm in the same boat feelings-wise about wall street, although my gut feeling is also that wall street have been involved with bitcoin since mid 2017, and that was a test run.
The last "bull run" was cut short very promptly as regulation in both government and banks choked the price from reaching as high as 2013 on a logarithmic scale. Case in point, nothing has touched 2013's crazy climb to date.
What worries me isn't Bitcoin though, its the p&d of smaller coins that is probably going to take place during the next run. The "protocol wars" and the "privacy wars" are going to lure a lot of people to their financial graves. It's going to be a blood bath because the proverbial "they" that own wall street also own big media, and the narrative will drive retail investors around like dumb sheep chasing dreams.
It's great to be honest. If these giants mingle, there will be less distrust towards crypto.
Institutional money just goes where it can get nice profits and usually it is a none or all game, when one of them decides to jump into a market, the rest come and join too. The good side is that any holder will probably see its investment portfolio grow and the more global market cap, the less volatility.
On the other hand, crypto markets will be more "controlled" by the big market makers the same way today traditional markets are but Decentralized Exchanges can play an important role in keeping the door open for the small retail crypto investor.
This is very good news , i am waiting for this increasing to continue . I hope crypto market increase high level as soon as possible .
Thanks for sharing @dragosroua
Upvote you .
Very good news, waiting for this increase to continue.
Bitcoin jumps 4% today with reason of that. Wow. What about steem? You try to be happy. Beacause more voluke is coming that. So you think about positive side of the news
I am really excited about this too.now hope is produced again the bitcoin will rule soon.
Think positive and stay happy. If more colume is coming so why you become angry. In my opinion it is good news. So dont be mixed. Bitcoin jumps 4%. This is realy a good thing
It's really cool to think about all of the investment the institutional money can bring into the crypto-space, as you say, until they actually get here. How much regulation and oversight is that going to cause to come raining and reigning down on us?
After the bear market we've been having, I'm sure there's plenty of us who can't wait for it. I've had my moments, too. The problem is, those entities tend to throw their weight around, and when they do, things for the little investors seem to change, and not exactly for the best. Or at least, not in ways that would maintain decentralization and freedom.
Can we have decentralized institutional money? :) Is that even a thing?