by Summary:
Blackrock’s chief investment officer of global fixed income told CNBC on Wednesday that the world’s largest asset manager had “started to dabble” in bitcoin.This was all the excuse bitcoin needed to charge ahead to a new record high of ,533. The institutional buzz around bitcoin started when US-listed Microstrategy, a business intelligence company, revealed in August 2020 that the company had invested 0m of its excess cash in bitcoin as a hedge against the dollar. One inadvertent consequence of the treasury management move was that Microstrategy’s shares would soon be considered a precious “listed” proxy for owning bitcoin outright, especially by those money managers bound by strict risk-controlled investing mandates that stop them dabbling in crypto.The
Topics:
FT Alphaville considers the following as important:
This could be interesting, too:
Blackrock’s chief investment officer of global fixed income told CNBC on Wednesday that the world’s largest asset manager had “started to dabble” in bitcoin.This was all the excuse bitcoin needed to charge ahead to a new record high of ,533. The institutional buzz around bitcoin started when US-listed Microstrategy, a business intelligence company, revealed in August 2020 that the company had invested 0m of its excess cash in bitcoin as a hedge against the dollar. One inadvertent consequence of the treasury management move was that Microstrategy’s shares would soon be considered a precious “listed” proxy for owning bitcoin outright, especially by those money managers bound by strict risk-controlled investing mandates that stop them dabbling in crypto.The
Topics:
FT Alphaville considers the following as important:
This could be interesting, too:
Tyler Cowen writes The new phrenology?
[email protected] (B. H.) writes Historians and Economic Historians in Conversation
Tyler Cowen writes Saturday assorted links
Alex Tabarrok writes Detroit Fauci
Blackrock’s chief investment officer of global fixed income