At the 2024 Digital Assets Conference in São Paulo, BlackRock once again positioned itself at the forefront of the cryptocurrency market, expanding its reach by discussing the impact of Bitcoin and launching its Bitcoin ETF in Brazil.
Jay Jacobs, head of Thematics and Active Equity ETFs at BlackRock, highlighted how Bitcoin is evolving as a “global monetary alternative” during his presentation, stressing the asset’s potential for long-term portfolio diversification.
As Jacobs explained, Bitcoin adoption has outpaced other major technologies, driven by growing skepticism towards central banks and fiat currencies. “Bitcoin helps solve the imperfections of fiat and gold,” he noted, underlining that Bitcoin is increasingly viewed as a hedge against monetary and geopolitical risks.
Why Professional Investors Should Pay Attention to Bitcoin
One of the key points raised at the conference was the role Bitcoin plays for professional investors. Jacobs emphasized that Bitcoin’s behavior is fundamentally different from traditional assets like stocks and bonds, which makes it an ideal asset for long-term allocation.
As institutional investors start adding Bitcoin to their portfolios, its status as a mainstream financial instrument solidifies, with a predicted $15 trillion market cap potentially on the horizon(Cointelegraph)(CryptoMeter).
BlackRock’s iShares Bitcoin Trust ETF, now available in Brazil, aims to offer investors regulated exposure to Bitcoin. It follows the successful launch in the U.S., where the ETF quickly reached $10 billion in assets under management.
Jacobs stated that institutional interest is expected to grow as Bitcoin’s volatility decreases over time, making it a less risky asset.
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