The chief executive officer of Digital Currency Group appreciated the move of BlackRock’s partnership with the Nasdaq listed crypto exchange Coinbase.
Digital Currency Group (DCG) is a VC company. DCG team analyses the crypto market and invests funds. The company is located in Stamford, Connecticut. In 2015, this company was founded by Barry Silbert. In late 2021, there was a total of $50 billion fund under the company management.
As we know very well that US-based Nasdaq-listed crypto exchange Coinbase established a partnership with the fund manager BlackRock. Both these two companies will help each other with their ecosystem & resources.
Following the Bitcoin Private Trust launch on Thursday by Thursday, DCG CEO tweeted that Central Banks may show interest to invest in Bitcoin because the BlackRock fund manager advises the Central Banks to invest money.
BlackRock, Inc. is an American multinational fund manager corporation, which is based in New York City (NYC). This fund manager was established in 1988. Currently, BlackRock is standing as the world’s largest asset manager, with US$10 trillion in assets under management as of January 2022.
In 2020, during the pandemic, the US Federal Reserve hired BlackRock to stabilize the bond market. And also in 2014, DCG worked with the European Central Bank to manage & settle the bank’s loan purchase program.
Within less than a week’s time frame after the Coinbase partnership, BlackRock announced its private Bitcoin trust fund with the help of Coinbase.
BlackRock also admitted that the Bitcoin market is highly volatile and this volatility is a big reason for the big companies & institutions to not to go with Bitcoin investment but still BlackRock is looking to find out the best possibilities to bring a better & safe Bitcoin investment strategy via its fund.