Cryptocurrency

Central Banks can safely invest in Bitcoin with BlackRock’s Bitcoin Private Trust; says DCG Founder

Digital Currency Group CEO Barry Silbert suggests that BlackRock’s Bitcoin Private Trust will make it easier and safer for central banks around the world to invest in Bitcoin.

Followed by release Barry of Bitcoin Private Trust on Thursday, his Tweet He presented fun facts about BlackRock’s business relationship with the central bank and hinted that the central bank may soon start investing in Bitcoin.

black rock is the world’s largest asset manager, managing approximately $9 trillion in assets for institutional investors, including central banks.

In 2020, BlackRock was hired by the US Federal Reserve (Fed) to advise on how to stabilize the bond market amid pandemic concerns. Also in 2014, BlackRock worked with the European Central Bank (ECB) to settle a loan purchase program.

BlackRock’s Private Bitcoin Trust will enable central banks with their customer base to experiment with digital assets.

Institutional Investors Come Along With BlackRock

Just one week after entering into a partnership with cryptocurrency exchange Coinbase to provide institutional investors with access to cryptocurrencies, BlackRock announced: release of that Private Bitcoin Trust.

Offered through Coinbase Prime, Bitcoin Trust is available to US-based institutional investors with direct access to Bitcoin prices.

Institutional investors are leaping forward while retail investors are exiting the market. BlackRock emphasized that despite worsening market conditions, institutional investors still want safe exposure to Bitcoin.

Despite the plunge in the digital asset market, some institutional investors have shown great interest in how our technology and product capabilities can be used to access these assets in an efficient and cost-effective manner. I’m here.

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