World’s largest asset management company Blacklock joins the virtual asset market

MicroStrategy plans to invest $900 million
Investment in major assets such as Bitcoin is expected to increase
Black Rock [Photo: Shutterstock]
Black Rock [Photo: Shutterstock]

[Digital Today Reporter Hyun-Woo Choo] BlackRock, known as the world’s largest asset management company, announced its intention to invest in the virtual asset market.

Rick Ryder, Black Rock Chief Investment Officer (CTO), appeared on CNBC broadcast on the 17th (local time) and said, “Black Rock is considering investing in Bitcoin.” “Investment attractiveness is increasing due to the evolution of virtual asset technology, the regulatory environment, and the recent rise in asset prices. Blackrock is also positively considering the inclusion of Bitcoin in its investment portfolio.”

BlackRock does not provide full-scale investment advisory services for virtual asset investment. However, it is reported that Black Rock is considering joining the virtual asset market as a termination investment based on its abundant cash equivalents worth $9 trillion. It means that about 1% of the investment portfolio can be covered with bitcoin.

CTO Rick Ryder explained, “The investment ratio decision is based on how the portfolio is operated, and the ratio itself is not very important. We will make the selection based on our mid- to long-term investment strategy.”

Meanwhile, MicroStrategy, which is famous for investing in bitcoin, is reportedly planning additional investments recently.

Cointelegraph said that MicroStrategy initially considered additional purchases of bitcoin worth $600 million, but recently raised it to $900 million. If additional investment is made, the amount of bitcoin held by MicroStrategy is estimated to reach 90,000 BTC. It is over $4.5 billion in current value.

Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.