$6.3 trillion investment powerhouse keeps up with the times to understand its competitors better

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Referring to the article on Financial News London - Yolanda Bobeldijk , BlackRock has set up a working group to investigate cryptocurrencies and their underlying infrastructure, blockchain. New York multi-asset investment strategist Terry Simpson, will be one of the key analysts assessing BlackRock's decision to invest in bitcoin futures. The news is unofficial hence I have gone to verify the possibility.

BlackRock currently manages $6.3 trillion in assets, operating internationally in more than 30 countries. According to his LinkedIn profile, Terry Simpson been working in BlackRock for 12 years, most recently as the Director of Multi-Asset Investment Strategy. His team gives investment views on all asset classes - including equities, fixed income, commodities, currencies, alternatives and multi-asset class approaches to investing. Naturally, views on cryptocurrency would seem to be a good fit for Simpson.

The working group is said to look at how cryptocurrencies would impact its business and its findings will be presented to the senior management. A BlackRock spokeswoman said the company had been “looking at blockchain technology for several years” but declined to comment on cryptocurrencies specifically. Source: Financial News London - Yolanda Bobeldijk .

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CEO of BlackRock has mixed thoughts about Bitcoin and cryptocurrencies, claiming to be a "big believer" but "the current market today is primarily focused on speculation" in one of his interviews with Bloomberg TV.

"Related to cryptocurrencies, I'm a big believer in the potential of what a cryptocurrency can do. You see huge opportunities, but what we're talking about today, it's much more of a speculative platform, people are speculating on it."
Source: coindesk - Nikhilesh De.

Other BlackRock employees have made remarks on cryptocurrencies, including Richard Turnill, BlackRock's global chief investment strategist. Although being on the conservative side, Turnhill was impressed by the blockchain technology:

"We see cryptocurrencies potentially becoming more widely used in the future as the market matures, yet for now we believe they should only be considered by those who can stomach potentially complete losses. Similarly, blockchain needs to overcome significant hurdles to reach its promising future."
Source: coindesk - Annaliese Milano

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The change of tone for BlackRock and its senior management could be the catalyst for more companies to see cryptocurrencies as serious business, and not just speculation as once perceived by many financial leaders. Highly plausible that BlackRock is already onto blockchain and cryptocurrencies.

-tysler