The world’s largest asset management has also set foot in bitcoin

Original title: the world’s largest asset management has also begun to get involved in bitcoin source: golden cross data bitcoin has soared recently, breaking through the $52000 barrier recently. At the same time, more and more institutions have begun to accept and invest in bitcoin, from large hedge funds to “the oldest bank in the United States” – New York Mellon bank, from companies to payment system providers, bitcoin is becoming more and more popular. Rick Rieder, chief investment officer for fixed income at BlackRock, the world’s largest asset management company, also said BlackRock had begun to dabble in bitcoin. “Inflation goes up as government debt continues to rise, and people are looking for assets that can steadily appreciate in this situation We’ve started to get into bitcoin. ” Rieder added that technology and regulation have developed to a certain extent, and many people believe that bitcoin should be part of the portfolio, which is driving up the price of bitcoin. After BlackRock, who is the next big company to invest in bitcoin? Bridge water? After the price of bitcoin exceeded $52000, MicroStrategy announced that it would expand its planned convertible bond issuance scale from $690 million to $900 million. It is expected that the proceeds from this issuance will be about $879 million, which will be used to buy more bitcoin. MicroStrategy is the world’s largest public company with bitcoin holdings. It has purchased bitcoin since August 2020 and currently has 71079 bitcoins, worth about $3.7 billion at current prices. According to a regulatory filing filed by the company on February 8, the average purchase price of these bitcoins was about $16109 per piece, with a total price of $1.15 billion, which means that the company has now made more than twice as much. Michael Saylor, founder and CEO of MicroStrategy, is one of bitcoin’s most high-profile supporters, encouraging Tesla CEO musk to convert the company’s balance sheet from dollars to bitcoin. “Bitcoin is the rarest asset in the world, digital gold,” Mr. seller said after Tesla announced its investment in bitcoin earlier this month According to a new survey by Gartner, most U.S. corporate finance executives don’t plan to follow Tesla’s lead in bitcoin investment, with 84% of respondents saying they never thought about owning bitcoin in the future. Only 5% of respondents said they plan to buy bitcoin this year. Gartner surveyed 77 corporate finance executives, including 50 chief financial officers (CFOs). 16% of respondents said they would like to accept bitcoin at some point in the future. According to the calculation, even if only 5% of the companies confirm that they intend to invest bitcoin as their assets this year, this will be enough to provide impetus for the next round of cryptocurrency rise, and more than 70% of respondents said that one of their most concerned things is the trend of other companies in bitcoin. In other words, the market is paying more and more attention to the special currency, and the demand will increase accordingly. Bitcoin is the most attractive for the technology industry, where 50% of respondents expect to hold cryptocurrency in the future. Cointelegraph points out that at least $640 billion can be invested in bitcoin in the technology industry alone, although most companies have so far spent only a fraction of their money on bitcoin. Ark invest, an investment firm, said earlier this month that if all S & P 500 companies allocate 1% of their cash to bitcoin, the price of bitcoin would rise by about $40000 to nearly $90000. Ark said bitcoin prices would rise by $400000 if companies invested more than 10% of their cash reserves in LTC. Will bitcoin eventually become a reserve currency? Anthony pompliano, co-founder and partner of Morgan Creek digital assets, a cryptocurrency hedge fund, even said on Wednesday that bitcoin prices could reach $500000 by 2030 and $1m eventually, but did not give a timetable. “I think bitcoin will eventually become the global reserve currency,” he said. I think the market value of bitcoin will eventually far exceed that of gold. ” “Trillions of dollars have been printed and injected into the economy, and everyone, from individuals to financial institutions and companies, is looking around the world for the best way to protect their purchasing power, and they finally decided to use bitcoin,” pompriano said, explaining the reasons behind the recent rise in bitcoin The bitcoin superstar’s prediction is based on several factors, including the scarcity of bitcoin (up to 21 million), and the decentralized nature of the technology, which does not have a central institution like the central bank to control it. The so-called bitcoin network is made up of miners who process transactions, who operate a large number of specialized computers to mine. Because there are so many different miners, no single entity can control the entire network. Moreover, because the computers they use are usually very powerful machines, bitcoin supporters claim that the network is one of the most powerful computer networks in the world. “As more and more people enter the market, liquidity will increase,” pompriano said. The greater the liquidity, the greater the utility. As the utility increases, the price becomes more stable You’ll see this evolution. ” “If you think about the Internet economy, you’ll see that there’s no currency that’s born with it (bitcoin) will eventually become the global reserve currency of the Internet generation. ” Dr. doomsday: bitcoin is just a bubble and a scam. New York University economist Rubini, who is known as Dr. doomsday, said on Wednesday that bitcoin and other digital currencies should not even be considered money because they lack many of the basic characteristics that money must have. “The flints all have a better monetary system than bitcoin,” he said. Fundamentally, bitcoin is not a currency. It’s not a unit of account, it’s not a scalable way of payment, it’s not a stable store of value. ” “It’s a misnomer to call them cryptocurrencies, they’re not even assets,” he added Roubini’s latest attack on cryptocurrency comes at a time when bitcoin is experiencing a historic rise, breaking through $51000 on Wednesday and $52000 shortly after his interview. When asked why bitcoin prices continued to soar, Roubini replied, “it’s because there’s a lot of manipulation, shipping scams, cheating, dumping and preemptive trading.” Roubini also pointed out that the limitation of transaction cost and transaction speed per minute may be a problem for bitcoin’s scalability. “Transaction costs are huge, but the technology allows no more than five transactions per second, while the visa network allows 24000 transactions per second,” he said

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