Asset management giant BlackRock, with over $10 trillion in assets under management, has published a new report touting Bitcoin as a unique portfolio diversifier. This marks the latest embrace of Bitcoin from the world's largest asset manager.
JUST IN: ???????? $10 TRILLION financial Giant BlackRock released a full report on #Bitcoin, saying it's a unique diversifier.
— Bitcoin Magazine (@BitcoinMagazine) September 18, 2024
The new marketing team is here ???? pic.twitter.com/WTHgawTyGD
Earlier this year, BlackRock launched a Bitcoin exchange-traded fund (IBIT), rapidly becoming one of the most successful ETF launches ever. The Bitcoin ETF already has over $21 billion in assets under management.
BlackRock CEO Larry Fink also recently changed his sceptical stance on Bitcoin, admitting he was "wrong" to dismiss it. The firm has steadily released research explaining Bitcoin's potential role for investors.
The new report explains that while volatile, Bitcoin is fundamentally detached from other asset classes over the long term. It argues Bitcoin's adoption depends on global concerns over monetary stability, geopolitics, fiscal policy, and political stability – the inverse of traditional "risk assets."
"Bitcoin, as the first decentralized, non-sovereign monetary alternative to gain widespread global adoption, has no traditional counterparty risk, depends on no centralized system, and is not driven by any one country's fortunes," the report states.
As major traditional finance players like BlackRock increasingly embrace Bitcoin, its reputation and adoption will likely accelerate, bringing it further into the mainstream. BlackRock's continued pro-Bitcoin stance reflects growing acceptance by global financial institutions.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments