Bitcoin is down -20% this week. Despite the low, there are good news.
Bitcoin continues to fall and reached USD 30K, almost -20% in the week. However, a new wave of investors appears to be approaching with BlackRock being allowed to invest in BTC.
BlackRock is a trillion-dollar asset management giant, and it is looking to allocate some of its funds into bitcoin.
BlackRock added that “the only bitcoin futures that funds can invest in are cash-settled bitcoin futures traded on CFTC-produced commodity exchanges.”
The original documents do not say definitively that BlackRock funds are about to buy bitcoins. But these records are known to be prior to these types of movements, indicating that BlackRock is at least establishing as regulatory trails to conduct such allocations.
Last month, BlackRock CEO Larry Fink noted during a panel presentation that bitcoin is gaining legitimacy as an asset class, but warned that “[we] have to go through many markets to see if it is permanently real”.
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