• February 28, 2024

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BlackRock Shares Plans to Increase its Investment in Bitcoin

ByLouis Adams

Feb 13, 2024 #Bitcoin
Reading time: < 1 minute

In the early part of January, cryptocurrency ETFs focused on Bitcoin were introduced on the American market, with investment company BlackRock being one of the organizations behind such a tool. This has provided an avenue for institutional investors to explore the potential of digital currency.

Rick Rieder, the head of BlackRock’s investment division, stated that the company plans to increase its investments in Bitcoin in the future.

As the use of cryptocurrencies evolves into a distinct and standalone asset class, the value of Bitcoin is expected to rise in the long term.

Rieder emphasized that Bitcoin will gradually integrate into the financial system and become a common part of investment portfolios, with tools emerging to facilitate the ownership, selling, and buying of cryptocurrencies.