The world's largest asset management company – BlackRock – is considering buying BTC.
CompanyBlackRock, which manages about $ 8.7 trillion, plans to offer customers access to cryptocurrency through bitcoin futures and is also considering investing in BTC.
The company's chief investment officer, Rick Rieder, noted on CNBC:
Keeping some of your cash capital in assets like cryptocurrencies makes some sense.
Reader did not elaborate on the strategyBlackRock regarding cryptocurrency, but the investment giant filed documents with the Securities and Exchange Commission last month to include cash-settled bitcoin futures as eligible investments for two of its funds.
According to Reeder, the growing institutionalinterest has taken the leading cryptocurrency to a new level. A host of major corporations and financial institutions, including MicroStrategy, BNY Mellon, MasterCard, and PayPal, have announced their cryptocurrency initiatives this month.
Reader has previously spoken positively about the potential of Bitcoin, noting that it can replace gold”.
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