Categories: Ripple

Investment Giant BlackRock Calls Bitcoin ‘Pretty Scary’ While Educating Employees On Working With It

Click here to view original web page at cointelegraph.com

The “world’s largest shadow bank” BlackRock Inc. has said Bitcoin is a “scary” sign of “excess” in global markets.

Speaking in an outlook presentation Tuesday and quoted by Bloomberg, the company’s global chief investment strategist Richard Turnill appeared to think the current downturn in cryptocurrency prices was little of a surprise.

“When when we look for signs of excess in the market, I look at bitcoin and to me that looks pretty scary,” he told the audience.

The comments appear to contrast with BlackRock’s overall view on cryptocurrency, with the company actively seeking to educate employees on the phenomenon.

After a day of learning about #cryptocurrency, our summer #interns joined the sales desk for an evening baseball game! pic.twitter.com/ravFW49uPn

— BlackRock® (@blackrock) July 11, 2017

The giant is “trusted to manage more money than any other investment manager in the world” according to its website, and is rumored to have close dealings with the Rothschild family’s investment empire.

Doomsday remarks about Bitcoin’s future are increasingly isolated despite continued price volatility.

Investors such as Richard Branson, as well as mainstream media sources are noticeably bullish on the outlook for cryptocurrency in general, while Ripple CEO Brad Garlinghouse said at Bloomberg’s New York HQ Monday that a significant market crash would be a “surprise” for him.

"I would be surprised if there was a major crash," he commented. "Could we see digital assets continue to double or triple or quadruple from where we are today? That wouldn’t surprise me at all."

Talk of a bubble having formed in both Bitcoin and altcoins has become a constant topic over the past six months, meanwhile, with various industry opinions fighting for credibility.

Civic CEO and entrepreneur Vinny Lingham has said only dramatic short-term price increases in Bitcoin pat $3000 would signify bubble-like behavior, while Genesis Trading’s Martin Garcia described current conditions as “frothy.”

“...I think that we are in the very early stages of the development of an entirely new asset class,” he added.

Speaking in an outlook presentation Tuesday and quoted by Bloomberg , […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Bitcoin Is Up Against An Extremely Important And Powerful Resistance Zone On The Monthly Chart: The Kijun-Sen (Base Line)

We can identify the price action causes of why price is finding it difficult to move higher by analyzing longer… Read More

5 hours ago

BTC ATM goes missing and no one notices

When you think of thieves stealing an ATM, the mind jumps to the idea of an exciting crime. Maybe there’s… Read More

5 hours ago

Major Swedish Bank Orders Negative Interest Rate on Euro Deposits

Sub-zero interest rates have become the norm in some countries, especially in Europe. Nordic nations such as Sweden and Denmark… Read More

5 hours ago

Researchers Concur Current Bitcoin Market Cycle is Only Just Beginning

Bitcoin price cycles can be influenced by a number of factors, FOMO and public sentiment is one, and mining profitability… Read More

5 hours ago

Hopes for Bitcoin as China’s Renminbi Drops to 11-Year Low

A recent plunge in the bitcoin price is looking to negate some of its losses as China’s currency weakens to… Read More

5 hours ago

Why Bitcoin Rules in the ‘Insane’ World of Negative Interest Rates

Central banks around the world are on a negative rate binge to further a compelling case for bitcoin.. | Source:… Read More

5 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More