Thursday, September 29, 2022
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BlackRock to launch a cryptocurrency trading platform

According to popular investor and commentator Zhu Su, Bitcoin and Ether are definite long bets for 2022.

Zhu, co-founder of hedge firm Three Arrows Capital (3AC), stated in a tweet on Feb. 10 that BTC and ETH, together with oil, were the finest investment prospects this year. Meanwhile, ex-BitMEX CEO Arthur Hayes has been pessimistic about the macro picture since the beginning of the year.

However, there are now “very apparent” locations to hedge cash over the next three quarters, according to Zhu.

“An insane 24 hours”

 

The forecast came after reports that the world’s largest asset manager, BlackRock, was considering entering the cryptocurrency market. Clients of BlackRock may soon be able to trade cryptocurrency and the firm will also provide credit in exchange for crypto collateral.

 

“Looking to get hands-on with outright crypto,” is BlackRock’s strategy. Overall, adoption has fueled an “insane 24 hours,” in the words of well-known trader and analyst Pentoshi.

 

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