The world’s largest investment company BlackRock will allow clients to invest in cryptocurrencies
The world’s largest financial asset management company BlackRock is preparing to offer customers products for trading cryptocurrencies. This writes CoinDesk, citing sources.
📌 The company, which manages more than $10 trillion in assets for institutional investors, intends to enter the cryptocurrency space with the addition of “trading support for clients and then its own lending institution.” In other words, customers will be able to borrow from BlackRock against cryptocurrency collateral.
📌 One source said that BlackRock, whose customers include pension, trust and government funds, plans to organize cryptocurrency trading through its Aladdin (from “Asset, Liability, Debt and Derivative Investment Network,” meaning Asset, Liability, Debt and Derivative Investment Network) investment platform. The timing of the initiative’s launch remains unknown.
McDonald’s plans to open a meta-universe with a virtual restaurant
McDonalds plans to offer a virtual restaurant with real and virtual goods, as well as home delivery of virtual goods.
This is evidenced by the new trademark applications that the company has filed. What’s interesting is that McDonald’s often trolls the cryptocurrency community, urging them to take their jobs after every Bitcoin drop.
Tesla made $627 million on bitcoin investments
In 2021, world-renowned electric car maker Tesla earned $627 million from its bitcoin investments.
📌 According to the company’s financial report for the last year, the company spent $1.5 billion buying bitcoins. Tesla sold $128 million worth of coins during 2021, and as of December 1, the value of coins on the company’s balance sheet reached $1.99 billion.
📌 Thus, the investment in the digital asset generated a profit of $627 million, while the profit of $499 million remained unrealized.
“We will continue to follow our investment strategy to meet our liquidity and risk reduction objectives. It includes purchases of U.S. Treasury securities, equities and digital assets.”
“We believe in the long-term potential of cryptocurrencies as an investment vehicle and a liquid alternative to cash,” Tesla said in the report.