Bitcoin Has No Label but Its Closest Rival Is Gold, BlackRock Exec Says
BlackRock views Bitcoin as a portfolio diversifier and gold alternative; ETF investors held steady, while Ethereum underpins stablecoins, DeFi and
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BlackRock says the Clarity Act matters less for Bitcoin as institutions increasingly treat BTC like digital gold.
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BlackRock views Bitcoin as a portfolio diversifier and gold alternative; ETF investors held steady, while Ethereum underpins stablecoins, DeFi and
BlackRock is launching target-date mutual funds through Great Gray Trust that will allocate 5-20% of assets to private investments, offering 401(k) plan participants exposure to privately held businesses. The move aims to provide better diversification and potentially higher returns (about 50 basis points annually more than stocks) as the stock market becomes increasingly concentrated in large-cap and technology stocks.
Bitcoin jumped 22% in August as gold correlation hit a six-year high. Analysts say shifting links may aid diversification as Wall Street adopts blockchain.
Anthony Scaramucci, founder of SkyBridge Capital, recently encouraged people to reject negative emotions in the face of setbacks and instead embrace “pronoia.”
Zcash has jumped to a record high and entered a top 10 of the biggest cryptocurrencies as institutional demand rises.
Top privacy coins like Dash, Monero, and Zcash prices jumped sharply and outperformed other coins as investors rotated to privacy coins.