Crypto: Bitcoin (BTC) mass adoption in progress!

After going through a lot of difficulties, including bans by certain states and the sharp drop in its price, bitcoin (BTC) could experience a revival marked by the great leap of institutional investors, in particular central banks as investors. This became possible thanks to a BTC-focused private trust from BlackRock.

Blackrock, the gateway to bitcoin for central banks

In a publication made on his twitter account, Digital Currency Group founder Barry Silbert has hinted that BlackRock’s BTC-focused private trust offers an avenue for central banks (which now have an easy and safe way) to invest in the flagship crypto. This trust was entered into on August 11, 2022, to allow institutional investors in the manager to take advantage of the windfall that crypto can offer, explains BlackRock.

“Despite the sharp decline in the digital asset market, we are still seeing substantial interest from some institutional clients on how to efficiently and cost-effectively access these assets using our technology and product capabilities.”explained BlackRock to justify the decision to sign the trust.

For information, BlackRock, the world’s largest asset manager, manages nearly $9 trillion in assets for institutional clients, including central banks.

At the beginning of August, the asset manager had already formalized a collaboration with Coinbase, with the aim of allowing its institutional clients in the United States to make transactions in BTC, via Coinbase Prime.

According to Barry Silbert, central banks could soon start investing in Bitcoin, thanks to a facility set up for institutional clients by BlackRock, which is becoming, in passing, one of the most important partners in the efforts. democratization of BTC and digital assets in general. All in all, this solution could ultimately speed up cryptocurrency regulation and/or enable greater crypto adoption around the world.

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