{"id":160357,"date":"2021-01-21T19:27:18","date_gmt":"2021-01-21T16:27:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/blackrock-opens-door-to-bitcoin-in-boost-for-cryptocurrency\/"},"modified":"2021-01-21T19:27:18","modified_gmt":"2021-01-21T16:27:18","slug":"blackrock-opens-door-to-bitcoin-in-boost-for-cryptocurrency","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/blackrock-opens-door-to-bitcoin-in-boost-for-cryptocurrency\/","title":{"rendered":"#BlackRock opens door to bitcoin in boost for cryptocurrency"},"content":{"rendered":"

“#BlackRock opens door to bitcoin in boost for cryptocurrency<\/strong>”<\/p>\n

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\n Wall Street investment giant BlackRock has said its funds may start investing in bitcoin in what could become a boost for the use of cryptocurrencies
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BlackRock, Wall Street’s biggest money manager, is opening the door to investing in bitcoin futures in a potential boost for the controversial cryptocurrency.<\/p>\n

Securities filings from the investment giant show at least two BlackRock funds may buy bitcoin, a digital currency which has seen wild swings since being introduced over a decade ago.<\/p>\n

BlackRock said it may buy bitcoin contracts which have been app<\/a>roved by regulators while acknowledging the risks of these investments. The company confirmed this was the first time it has indicated it may invest in the cryptocurrency.<\/p>\n

“Bitcoin and bitcoin futures have general<\/a>ly exhibited significant price volatility relative to more traditional asset classes,” the company said in a filing with the Securities and Exchange Commission.<\/p>\n

“Bitcoin futures may also experience significant price volatility as a result of the market fraud and manipulation.”<\/p>\n

BlackRock noted that bitcoin values “are determined by participants in an online, peer-to-peer network” and that the digital asset is “not backed by any government, corporation, or other identified body.”<\/p>\n

The digital currency which is created through a complex computational process known as bitcoin “mining,” has seen its value soar to as high as $40,000 while also seeing plunges of 20 percent in recent years. <\/p>\n

Bitcoin and other cryptocurrencies have been linked to nefarious activity on the “dark web” and some inexperienced investors have lost their digital assets.<\/p>\n

Despite living on the margins of the investment world, bitcoin has attracted interest from established money managers seeking returns in a market which has been roiled by the global economic crisis.<\/p>\n

But such investments are still considered highly speculative.\n <\/p>\n\n

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Federal regulator gives OK for bitcoin futures to trade<\/a>\n <\/div>\n

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\n \u00a9 2021 AFP<\/p>\n

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Citation<\/strong>:
\n BlackRock opens door to bitcoin in boost for cryptocurrency (2021, January 21)
\n retrieved 22 January 2021
\n from https:\/\/techxplore.com\/news<\/a>\/2021-01-blackrock-door-bitcoin-boost-cryptocurrency.html<\/p>\n

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\n part may be reproduced without the written permission. The content is provided for information purposes only.<\/p><\/div>\n<\/p><\/div>\n