WELL, how about this. You all have heard of BlackRock right? Its that $5.7 trillion AUM world’s largest investment company group that swings some very heavy weight in the investment world. Well, BlackRock is really bullish on cryptocurrencies (of course not ALL of them) and sees a much “wider use” in the future for cryptos. We say….RIGHT ON. Naturally a whole lot of work has to be done for cryptocurrencies to be widely accepted and their true value unleashed, such as regulation (under way), lower costs, less volatility (happening) and a much wider acceptance within the investment community (THAT is beginning). Remember, the crypto world is just a “pup” being under a decade old. So, its refreshing to see a giant like BlackRock looking forward and not backward. Oh, if you get in really early you could lose a bunch before all the good things happen. Careful out there (covered my b***).
Bill Taylor/Managing Editor
“The world’s largest investment company BlackRock has continued its bullish forecast for cryptocurrency, saying it sees “wider use” in the future in its weekly commentary report released Monday, Feb. 26.
The investment management giant with $5.7 trln in assets under its control said that it would take time for cryptocurrency’s volatility to dissipate so it could enter traditional investment portfolios.
“Our bottom line: We see cryptocurrencies potentially becoming more widely used in the future as the markets mature,” the report determined.
“Yet for now we believe they should only be considered by those who can stomach potentially complete losses.”
BlackRock stands out among fellow finance industry giants with its quietly supportive stance on Bitcoin and other crypto assets’ investment potential.
As Cointelegraph reported late January, the corporation’s chief multi-asset strategist had gone public with comments that crypto was being kept under “close review” as an “interesting development.”
Continued interest despite volatile periods, Isabelle Mateos Y Lago said, constituted proof there “really is something to” the phenomenon…”