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The world’s largest investment firm invested in Bitcoin mining

The move shows that despite the scrutiny BTC mining is experiencing, renowned global investors want to participate or deepen their relationship with the bitcoin ecosystem. In fact, after the report was released, Marathon shares appreciated 10.85%, while those of Riot grew 7%.

BlackRock It is considered the largest in the world in asset management valued at more than 5.1 trillion dollars in 2016 according to the company. It also invests in equity, fixed income, cash management, alternative investments and real estate strategies. The reason indicated by the specialists on this investment is the departure of miners from China. This exodus would benefit the United States or Canada since it would capitalize part of the hash rate that is leaving Asian territory.

Some Chinese companies could land on North American territory, which would boost the local mining sector. In fact, in July of this year he points out that 40% of the Bitcoin hash rate will come out of China and go to the United States, country that is opening the doors to digital asset mining.

Remember that BlackRock was not totally oblivious to Bitcoin before investing in Marathon or Riot. In January of this year, the fund manager opened the doors to BTC derivatives, according to a request sent to the SEC. More recently, in March, it became known that the corporation had acquired bitcoin futures contracts for $ 6.5 million.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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