BlackRock executive calls Bitcoin a “hedge against geopolitical uncertainty” – DiarioBitcoin

According to the executive of BlackRock, despite Bitcoin With only one-tenth the market size of gold, it has utility for many investors who see it as a hedge asset and/or a way to take advantage of technology adoption. Blockchain.

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• According to Jay Jacobs, Bitcoin It is useful for investors seeking to shelter from geopolitical uncertainty.
• Investors also find it useful in taking advantage of future technology adoption. Blockchain
• Invites interested parties to do due diligence and consider the risks before investing in the digital currency
• The ETF Bitcoin of BlackRock ranks as the most successful product among its peers

Jay Jacobs, Head of Thematic and Asset ETFs for BlackRock, He assured that Bitcoin works like “hedge against geopolitical uncertainty”seeing special utility also in mitigating inflationary risks.

The usefulness of Bitcoin

Jacobs’ statements came to light in a video recorded for the series Quick Download, produced by BlackRock, where he shared some details about Bitcoin and on the fund (ETF) based on the digital currency that the company manages, better known as the iShares Bitcoin Trust (IBIT).

In this regard, Jacobs indicated that although “Bitcoin is a nascent asset… only a tenth the size of the gold market“, many investors consider it “as a possible hedge against geopolitical and monetary risks”while others might perceive you “as a way to take advantage of the future adoption of Blockchain technology”.

Although Bitcoin may have different use cases depending on investor preferences, Jacobs indicated that whatever the focus of interest, “investors should take a measured approach…considering both the risks and potential returns of the asset.” ”.

JUST IN: BlackRock says #Bitcoin is a hedge against geopolitical uncertainty and monetary risk. pic.twitter.com/hgzqprtp60

— Watcher.Guru (@WatcherGuru) June 27, 2024

The ETF Bitcoin of BlackRock

While Jacobs’ remarks reflect the clear interest among investors and the need to make proper assessments before making financial decisions, they come amid the success of the BlackRock-backed Bitcoin fund.

As we have indicated in previous editions, the ETF Bitcoin of BlackRock It is listed as the product of its type with the best commercial results. The place Farside Investors reflects that said fund has capitalized more than USD $17,643 million in net income to date, a figure it has achieved with just five months of operations in the US market.

On the other hand, the analyst Bloomberg, Eric Balchunas, stated that the ETF Bitcoin of BlackRock reached a new record in May by registering more than 400 holders of its shares, surpassing other new funds and far outperforming peers such as FBTC, BITB and ARKB.

As for investors, the iShares Bitcoin Trust of BlackRock It has also managed to attract very well-known entities. Recent reports reveal that the state of Wisconsin in the US has a multi-million dollar position in this product, which translates into some 2.4 million shares of the IBIT. They also highlight BNP Paribas, JPMorgan and other major banks.

At the time of publication, the ETF Bitcoin of BlackRock It has under management some 305,612 BTC valued at approximately USD $18,584 million at the current exchange rate, making it the fund of its kind with the largest amount of assets under management.

Article by Angel Di Matteo / DailyBitcoin

WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.