$8.7 Trillion Asset Manager BlackRock Is Exploring Bitcoin As Institutions Flood Crypto

Glowing dark background with bitcoin symbol.

Rick Rieder, BlackRock’s chief investment officer of global fixed income, told CNBC Wednesday that the investment giant has “started to dabble” in bitcoin—it’s the latest instance of a major financial player dipping its toes into digital assets.

Reider did not elaborate on BlackRock’s cryptocurrency strategy, but last month the investment giant filed documents with the Securities and Exchange Commission showing that it wants to include cash-settled Bitcoin futures as eligible investments for two of its funds.

BlackRock is the world’s largest asset manager—it managed some $8.7 trillion at the end of the fourth quarter.

Rieder told CNBC that he believes bitcoin’s recent rally is gaining momentum in part because of stronger regulations and better technology.

“My sense is the technology has evolved and the regulation has evolved to the point where a number of people find it should be part of the portfolio, so that’s what’s driving the price up,” he said.

Big Number

$51,000. That’s the new record price bitcoin hit early on Wednesday morning. The most popular cryptocurrency started the year with prices around $30,000.

Key Background

A spate of major corporations and financial institutions including MicroStrategy, BNY Mellon, and MasterCard,and PayPal have announced cryptocurrency initiatives this month, and there are reports that a $150 billion investment division at Morgan Stanley is considering investing in bitcoin. A portion of bitcoin’s recent gains are likely attributable to a surprise announcement from Tesla that the electric car maker had invested $1.5 billion into the cryptocurrency and has plans to start accepting it as payment.

Further Reading

BlackRock’s Rick Rieder says the world’s largest asset manager has ‘started to dabble’ in bitcoin (CNBC)

Not Just Tesla: Big Institutions Keep Piling Into Bitcoin As Price Rockets Past $50,000 (Forbes)

Bitcoin Soars To New High After Tesla Says It Invested $1.5 Billion (Forbes)

BlackRock Files To Add Bitcoin Futures To Funds (Forbes)

By: Sarah HansenSarah Hansen

 

 

Source: $8.7 Trillion Asset Manager BlackRock Is Exploring Bitcoin As Institutions Flood Crypto

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Bitcoin surges to hit NEW all-time high on Christmas day as BlackRock, the world’s largest asset manager, looking to cryptocurrency in 2021! Altcoin Daily, the best cryptocurrency news media online! Follow us on Twitter: https://twitter.com/AltcoinDailyio Follow me [Austin] on Instagram here: https://www.instagram.com/theaustinar… TimeStamps: 00:00 Intro 00:17 Bitcoin and BlackRock 05:39 NEW SEC Chairman Appointed! 07:14 XRP Delistings 09:38 1inch vs Uniswap vs Sushi 11:31 Final Thoughts
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4 Fun Ways for Millennials to Dip Their Toes Into Investing

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Calling all millennials: How much of your money is in equity or invested somewhere? Sure, there may be a savings account in a mutual fund somewhere nice and safe that your parents set up for you on your 18th birthday, but knowledge about investing and the stock market isn’t as widespread as you’d think. In fact, a recent study found that less than half of affluent (i.e. money-making, employed and educated) millennials feel knowledgeable about investing at all. That includes setting aside money for retirement. While knowledge about how to navigate the stock market is nebulous, there’s also a gap in how to acquire knowledge, and 21 percent of non-investors say that they don’t invest because they don’t trust financial advisors or stockbrokers.

Still, millennials have the most opportunity on their hands (Gen Z, too) to make a killing in the stock market if they invest sooner rather than later. It’s a long game due to the compounding effect. So, for millennials who don’t yet have the knowledge or understanding to get started in investing in a major way, here are four fun ways to dip their toe in and understand how it works. Who knows? Beginning with one of these steps today may make you a fortune later.

1. Use a DIY platform

There are many investing platforms that can create personalized investing portfolios so you can learn as you go. Take Ellevest, which features 21 asset classes and creates a portfolio based on the amount of risk you want to take. For female-identifying millennials, this is a great first place to get started, because you can invest as little as $20 and add a recurring contribution and edit your timeline as you go. Platforms like this help you experiment within your budget, allocating your money in different ways to reach your goal and learn simultaneously.

Related: How to Start Investing

2. Invest in something that interests you

Big investing buzzwords can be intimidating at first, which is all the more reason to invest in something you’re already familiar with, so it feels less foreign. This will create a sense of personal investment and interest, too. This could span from investing in a friend’s Kickstarter for a product you believe in to using a platform like Vinovest, which allows users to buy and sell fine wine without having to store the inventory in their homes.

At the same time, an investment of this type can be fun and different — a conversation starter. Already having an interest in one industry sector or type of product can also incentivize further research on the topic, which can only pay off as far as investment decisions go.

3. Invest in something that’s part of a global conversation

Investing in something like cryptocurrency can be another learn-as-you-go alternative. Many millennials enjoy taking part in the conversation around the different types of cryptocurrency on Reddit and Twitter, where they can crowdsource information, make friends and educate themselves in a more social way. Apps like Coinbase make this easy, where everything from Bitcoin to Ethereum is available to purchase and sell at a moment’s notice, which is how many millennials begin to play with trading. These are valuable skills that can translate to the stock market later on.

4. Do a convertible loan

The nature of a convertible loan means that a term is created for a loan for a startup or business, and the loan will be returned with a small interest fee, with the option to turn the debt into equity. For millennials in the startup sphere interested in business or working in venture capital, this is a great way to begin the process of startup investing while also giving the startup a year to perform before deciding whether to invest or take back their loan money with the small interest rate accrued. This can also be a great opportunity to learn about key terms and KPIs regarding business growth and what investors should look for in startup performance.

Each of these four ideas provide an educational glimpse into the world of investing, with a slightly smaller margin of risk for beginners. The best way to learn is through doing, so millennials just need to start playing with their disposable income to learn the ropes.

By

Source: https://www.entrepreneur.com

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