Barry Silbert explained why BlackRock’s Bitcoin trust move is important.
Barry Silbert, CEO of Digital Currency Group, evaluated BlackRock’s Bitcoin trust move.
Barry Silbert Points to Central Banks
Digital Currency Group CEO Barry Silbert said in a statement on Twitter that with BlackRock’s Bitcoin move, many central banks of the world have reached an easy and safe way to invest in Bitcoin.
Fun fact: BlackRock advises and invests money for many of the central banks around the world
Another fun fact: Central banks now have an easy, safe way to invest in bitcoinhttps://t.co/Fd9OsXsafr
— Barry Silbert (@BarrySilbert) August 11, 2022
BlackRock, the world’s largest asset manager, announced today that it has launched a trust that will allow institutional investors to invest directly in Bitcoin.
BlackRock claims that despite the decline in the cryptocurrency markets, there is a strong interest in crypto assets.
The company also praised companies like Energy Web for promoting green energy in Bitcoin mining.
BlackRock announced that it has previously partnered with Coinbase, the largest US cryptocurrency exchange, to offer Bitcoin services to institutional investors.
As Silbert mentioned, BlackRock is known for investing funds on behalf of many central banks around the world.
The Fed commissioned BlackRock to stabilize bond markets during the pandemic. The company was also tasked with managing the assets of investment bank Bear Stearns during the financial crisis in 2008.
In 2014, the European Central Bank hired BlackRock to assist its crypto program.
The company is estimated to manage approximately $8.5 trillion in funds.
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