Central Banks can safely invest in Bitcoin with BlackRock’s Bitcoin Private Trust; says DCG Founder

Barry Silbert, CEO of the Digital Currency Group, claims that BlackRock’s bitcoin private trust makes it simpler and safer for central banks to invest in bitcoin globally, as reported by Cryptoslate.

Following the Thursday launch of the Bitcoin Private Trust, Barry shared some interesting information regarding BlackRock’s business dealings with central banks and made a suggestion that they would soon start investing in Bitcoin.

With roughly $9 trillion in assets under management for institutional clients, including central banks, BlackRock is the biggest asset fund manager in the world.

Back in 2020, the U.S. Federal Reserve recruited BlackRock to provide advice on how to control the bond market amid pandemic worries. Additionally, BlackRock and the European Central Bank (ECB) collaborated in 2014 to settle the loan purchase program.

Central banks on BlackRock’s client list can experiment with digital assets thanks to the company’s private bitcoin trust, noted Cryptoslate.

“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 and product capabilities,” Silbert, added.

Institutional investors are moving into the market at a time when individual investors are pulling out. BlackRock emphasised that its institutional clients continue to request safe exposure to bitcoin despite the deteriorating market conditions.

(With insights from Cryptoslate)

Also Read: DeFi based Oasis to prohibit at-risk wallet adresses

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