BlackRock Just Added Bitcoin To List Of Assets For Global Allocation Fund

It’s been just revealed that BlackRock just added Bitcoin to its list of assets for the Global Allocation Fund. Check out the latest reports below. Just in case you don’t know, BlackRock, Inc. is an American multi-national investment company based in New York City.

The company was founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world’s largest asset manager, with US$10 trillion in assets under management as of January 2022.

Also, check out the following tweet:

It is cash-settled $BTC futures and not physical Bitcoin.

From the source article:

“The Fund may invest in cash-settled bitcoin futures that are traded on commodity exchanges registered with the Commodity Futures Trading Commission.”

— Siamak Masnavi (@siamakmasnavi) January 6, 2023

While some say that this is showing a growing acceptance of BTC adoption, others are not seeing this with optimistic thoughts.

Bitcoin’s energy usage has been in the news for years and Alden addresses the subject amazingly with various explanations and debunking all kinds of myths.

She said that Bitcoin is often criticized for using too much energy, or not making efficient use of its energy, or in extreme cases, being an outright climate/energy disaster.

“For example, back in December 2017, Newsweek ran a piece called, “Bitcoin Mining on Track to Consume All of the World’s Energy By 2020“: The World Economic Forum ran similar headlines as well, because these various organizations were all referencing the same flawed sources.”

She also said in fact, “as someone with a background in electrical engineering, part of why I was drawn to Bitcoin in the first place was by seeing how efficiently its network uses energy.”

Check out the original article posted by Alden here. 

It’s also worth noting that the popular crypto analyst and trader Jason Pizzino sees signs that Bitcoin (BTC) is currently in an accumulation stage.