Bitcoin rises as biggest asset manager studies crypto technology
22 Juillet, 2018, 05:49 | Auteur: Auguste Feret
BitcoinBTC=BTSP was trading up 4.4 percent at more than $6,600 Monday on the Bitstamp exchange, its best showing in more than two weeks, after an initial report describing the working group appeared on the website Financial News late on Sunday.
In a report from Reuters, the giant financial news institution published an interview with Larry Fink, the CEO of the world's largest money manager, BlackRock in which he acknowledged that the fund is planning to explore opportunities in blockchain and cryptocurrencies.
If you are interested in trading Bitcoin, Bitcoin Cash, Ethereum, Litecoin or Ripple we can help you begin your journey. BlackRock is also to be watching how its competitors are doing in the Crypto markets as well as monitoring their steps towards Blockchain technology. The group consists of different employees from several parts of the business. The company said afterward in a statement that its focus was largely on blockchain, the technology underlying Bitcoin.
With many institutional investors joining the cryptocurrency markets this will boost the crypto markets as well give other investors' confidence to join the market which is key for its growth. In 2017 the price of Bitcoin went close to 20,000 dollars but has since lost more than half of that price. Earlier today, BTC was nudged higher after news over the weekend that U.S. digital currency exchange Coinbase was considering adding another five altcoins to its platform.
The news is certainly a shot in the arm for cryptocurrencies at a point they could use it. Countries like China and South Korea have moved to regulate the market with both countries banning Initial Coin Offerings.
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