Celebrated analyst, Tyler Swope, who hosts the Chico Crypto showon YouTube has revealed that the World’s wealthiest are planning big for bitcoin and the entire crypto market. Chico crypto was analyzing the recent move by BlackRock (an asset management firm) to invest in the crypto market.
Blackrock Wants More
BlackRock is estimated to have approximately $9 million in assets under management (AUM). Chico crypto opined that BlackRock’s entrance into the crypto world proves that there might be other big entrants into the market.
The analyst’s remarks were a result of comments made by Rick Rieder (BlackRock’s chief investment officer) who disclosed that “we have made attempts at investing in bitcoin in the past. But now, bitcoin is at a level where it must be part of any serious investor’s portfolio.
Tyler also revealed that several BlackRock executives now hold vital positions in the current administration and they could influence economic policies through their positions.
Notable among the executives holding these positions are Wally Adeyemo and Brian Deese who are the senior investment advisor and sustainable investment head respectively.
Swope further said that the finance magnate is now actively involved in bitcoin mining which Mark Weidman says, “aligns with the firm’s objective of being a global leader in sustainable investments.” Weidman heads BlackRock’s corporate strategy section.
The popular crypto vlogger also said BlackRock could leverage its position as partial controllers in marathon digital holdings to find the solution to the environmental concerns regarding bitcoin mining. Marathon is the largest bitcoin mining firm in the U.S. And is also a founding member of the bitcoin mining council headed by Michael Saylor.
Blackrock’s Moves Far Too Strategic
Swope adds that “you can see the developing narrative with BlackRock; digital currency on one side, sustainability on the other side. While their involvement with marathon digital holdings may coalesce these sides, it aligns perfectly with the upcoming boost in hash power when new mining machines are put in place.
If marathon can move these machines to a state like Texas where they can use renewable energy, their mining operations would 75% carbon neutral once it is in operation.” Swope suggests that BlackRock may have some secrets up their sleeves that might be unknown to other players in the industry because of areas in which they have been involved. “BlackRock seeks to go beyond bitcoin mining, markets, and futures trading.
They want to dominate all aspects of the crypto market. Their moves, their hires, and planning are highly strategic and seems to show that they know more than we do.” Swope concluded
Indonesia Central Bank Forbids Payments with Cryptocurrency
In other crypto-related news, Indonesian authorities are doing everything to retain oversight in the crypto market and their latest move is to disallow using cryptocurrencies for payments.
Instead Indonesia’s central bank, through its governor Perry Warjiyo, revealed that it would create its digital currency but which will still be under the control of the state. However, there are indications that the government may tax cryptocurrency trades and not crypto-related transactions outrightly.