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.
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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.
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."
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