Bitcoin touches five-week Amid Interests from World’s Largest Asset Manager
Bitcoin, the most widely traded cryptocurrency touched the strongest level since June 10 amid a wide surge in appetite for risk, which today sent gold to the lowest level in a year. The surge was also driven by media reports that BlackRock, the world’s largest asset manager was looking at opportunities in the market, including Bitcoin futures, and the blockchain technology.
According to London’s Financial News, BlackRock has set up a working group to investigate ways the asset manager can take advantage of the fast-growing cryptocurrency market.
Blackrock has created a team from different segments of the business to investigate cryptocurrencies and their underlying infrastructure, blockchain, and to decide whether they should invest in bitcoin futures.
BlackRock CEO Larry Fink in an interview with Reuters said, “We are a big student of blockchain.”