This investor may be helping the recent cryptocurrency market rise

Bitcoin 10000

Bitcoin is rising again, this time above the $7,000 level. While the “people’s currency” was on the low tide for about a month, swinging from $6,000 to $6,700 level most of the time, now, the digital currency is rising again.

The common news is that Bitcoin is rising and there is an upward movement in prices of almost all altcoins. However, as this may be true, there is another reason why Bitcoin is currently going up.

According to Fortune Magazine, it is one of the biggest asset managers in the world, BlackRock that this rise may be owing to. The CEO of BlackRock, Larry Fink, once called digital coins: “more an index of money laundering”.

The major news is that while BlackRock’s CEO may be sceptical about cryptocurrencies, the company is now seriously looking into digital currencies and even establishing a working group to investigate the “asset class” in more depth.

Surprisingly though, according to Fortune Magazine, the working group that BlackRock established isn’t a new one. In fact, it was formed years ago. While all major financial institutions have at this point working groups that discuss and follow blockchain and cryptocurrency news, many believe that it is BlackRock’s interest that is slowly moving the market up.

The fact is that BlackRock is the largest asset management company in the world and the news that they are looking into investing in the cryptocurrency space, then prices could easily go up on this note alone.

Of course, other factors may play a major role in the recent boost, but BlackRock’s interest is definitely a force behind the latest Bitcoin and altcoin market.

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This investor may be helping the recent cryptocurrency market rise

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