Crypto Market Sees Gains As Biggest Asset Manager “BlackRock” Indicates Interest in Blockchain
Bitcoin has seen its biggest surge in two weeks as BlackRock became the latest big name to signal interest in the technology underpinning digital currencies.
The leading cryptocurrency Bitcoin has advanced 3.72% in the past 24 hours currently trading at $6 597. Top altcoins Ethereum, Bitcoin Cash, EOS, and Litecoin have recorded gains of at least 5%.
According to a report by London’s Financial News, the world’s largest asset management company BlackRock has formed a team to look into how it can take advantage of the cryptocurrency market and blockchain.
A BlackRock spokesperson declined to comment on the report, which said the company was studying whether to take an active role in the Bitcoin futures market.
In a statement, the firm said its focus was largely on blockchain, the technology underlying cryptocurrencies.
Until the report today, Bitcoin hasn’t notched a one-day gain of more than 2% since July 2. The cryptocurrency is currently looking for a possible breakout of its $6 800 resistance. The total market cap has added $10 billion in the past 3 hours and is settling at $267 billion at the time of writing.