BlackRock educates its clients about crypto assets, highlighting Bitcoin’s unique role and significance in global payments.
In a new question-and-answer video series dubbed, iShares’ The Ask, Anna Nerys, a product analyst, discussed the different types of digital assets.
Digital Assets Explained
First, she defined digital assets as anything in the digital realm that has monetary value. Nerys also highlighted the different types of digital assets, such as data, intellectual property, and cryptos.
Notably, she recognized Bitcoin as the world’s largest cryptocurrency by market cap, characterizing the coin as an ‘emerging global monetary alternative.’
This indicates that the world’s largest asset manager considers Bitcoin a potential alternative to traditional fiat currencies. It implies that Bitcoin could serve as a digital form of money that can be utilized for global payments.
Why Bitcoin Is a Suitable Monetary Alternative
Furthermore, Anna highlighted some features of Bitcoin, justifying her views about Bitcoin being an emerging global monetary alternative.
These features include Bitcoin’s ability to facilitate near-instant transactions at a lower cost, potentially making it ideal for cross-border settlements. The iShares product analyst emphasized that Bitcoin can function without relying on third parties like banks or governments.
Her commentary positions Bitcoin as not just any other digital asset but one that can redefine the global financial space by functioning as a monetary alternative.
BlackRock Ties with Bitcoin
It bears mentioning that BlackRock is no stranger to Bitcoin. The asset manager offers a spot-based exchange-traded fund (ETF) tied to the cryptocurrency, dubbed the iShares Bitcoin Trust (IBIT).
The fund, which emerged as the fastest-growing ETF last year, has an AUM of nearly $40 billion. The remarkable surge in IBIT’s AUM reflects institutional investors’ growing interest in Bitcoin.
Interestingly, Robbie Mitchnick, Head of Digital Assets at BlackRock, speculated that the price of BTC could soon rise to match this growing institutional adoption.
Bitcoin trades at $86,237 per coin, up 3.25% over the past 24 hours. The asset has also soared 4.1% in the past seven days, with a daily volume of $37.16 billion.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
