Speaking of Bitcoin in an interview Feb. 17, he said that "the volatility of it is extraordinary, but listen, people are looking for storehouses of value... 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.”
BlackRock revealed in Jan. 20 filings with the U.S. Securities and Exchange Commission (SEC) that its BlackRock Funds V and BlackRock Global Allocation Fund have added bitcoin futures to their eligible investments, both for speculation and hedging.
Bitcoin saw a fresh sell-off on January 21 as a surprise bearish phase swept the market despite huge institutional buy-ins. Travis Kling, founder of crypto hedge fund Ikigai, argued that the forthcoming entry of multitrillion-dollar asset manager BlackRock into the Bitcoin arena was a far more important price trigger.
Bitcoin briefly cracked $40,000 on Jan. 7, reaching a new all-time-high of $40,180.15 at 1:21 p.m. EST according to CoinGecko. It then plummeted nearly $3,000 before jumping back to its current $39,200.
