BlackRock Studying Bitcoin's Countercyclical Benefits
Main page News, US Market, US, Crypto Market, Cryptocurrency
Hot topic
May 26, 2021

BlackRock, an American multinational investment management corporation, said it is studying cryptocurrencies like bitcoin (EXANTE: Bitcoin) to find out whether digital assets could offer "countercyclical benefits," Reuters has learned.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

The firm said during a meeting with shareholders it is monitoring the evolution of cryptocurrencies, however, it remains unknown if BlackRock is going to invest in cryptocurrencies.

"We are studying what it means, the infrastructure, the regulatory landscape," said Larry Fink, BlackRock CEO.

BlackRock Reveals Investments in Bitcoin Futures

Fink also added that it is too early to find out whether cryptocurrencies are "just a speculative trading tool." Earlier in April, Fink said that cryptocurrencies can one day become "a great asset class." He also said then that the firm "makes money on it," however, BlackRock is not seeing "broad-based interest by institutions worldwide."

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error