Blackrock Robot Aladdin now buying up all your Bitcoins.

Ok…

Like everything else in the world Blackrock Robot “Aladdin” is now buying up all the cheap Bitcoin.

Or has it been buying the dips all along ????

“All your Bitcoin are belong to us….”

BlackRock has launched a private trust offering institutional clients in the U.S. direct exposure to Bitcoin.

Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology (Aladdin) and product capabilities,”

Blackrock said in this recent blog post: https://www.blackrock.com/institutions/en-us/insights/bitcoin-private-trust

BlackRock recently announced a partnership with Coinbase that will provide common clients of Aladdin and Coinbase access to the digital assets trading lifecycle through connectivity between Coinbase and the Aladdin platform, starting with Bitcoin. Leveraging Coinbase’s comprehensive trading, custody, prime brokerage and reporting capabilities, common clients will be able to manage their bitcoin exposures alongside their public and private investments.

Source: https://www.blackrock.com/institutions/en-us/insights/bitcoin-private-trust

Blackrock CEO Larry Fink says that BlackRock clients had been showing “increasing interest” in digital currencies, including stablecoins and “the underlying technologies” — also known as blockchain.

“Bitcoin is the oldest, largest, and most liquid cryptoasset, and is currently the primary subject of interest from our clients within the cryptoasset space,” the post continued.

Source: https://www.cnbc.com/2022/08/11/blackrock-launches-a-private-trust-to-give-clients-exposure-to-spot-bitcoin.html

Bitcoin dropping ….