BLACKROCK: WORLD’S LARGEST ASSET MANAGER PROVIDES BITCOIN TO CLIENTS!! GUGGENHEIM EXPECTS $20K BTC!!

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BlackRock has authorized two of its funds to invest in Bitcoin (BTC) futures, according to filings released Wednesday with the Securities and Exchange Commission.

The move allows exposure to cryptocurrencies for clients of the world's largest asset manager for the first time.

The $8.7 trillion asset manager said it could use bitcoin derivatives, among other assets, under the BlackRock Strategic Income Opportunities and the BlackRock Global Allocation Fund.

The funds are only permitted to trade cash-settled bitcoin futures, meaning the holder will receive a simple cash credit once the contract expires. Such settlements do not require physical delivery of the underlying asset.

More specifically, BlackRock's two funds will trade only in those bitcoin futures that trade on exchanges registered with the Commodity Futures Trading Commission. At present, the only exchange registered to do so is the CME.

Bitcoin scored an all-time high above $41,000 earlier this month, driven largely by record amounts of money being pumped into economies by governments and central banks to aid relief from the coronavirus crisis. The token was trading around $33,181 on Thursday - a drop of almost 6% on the day.

BlackRock reported assets under management of $8.68 trillion as of December 31. In December, CEO Larry Fink noted that the world's most popular cryptocurrency is seeing giant moves on a daily basis and could possibly unfold into a global market.

Rick Rieder, the firm's chief investment officer, told Bloomberg shortly after that there is a clear demand for bitcoin and that "it's going to be part of the asset suite for investors for a long time."

In other trending Bitcoin News today:

"Guggenheim CIO Expects Bitcoin to Drop to $20,000"

A senior executive at financial services firm Guggenheim Partners — which is planning to seek investment exposure to Bitcoin (BTC) — has argued that BTC is poised to drop to $20,000.

Scott Minerd, Guggenheim’s chief investment officer, believes that Bitcoin will not hit another all-time high in 2021, according to a Jan. 21 episode of CNBC's Closing Bell.

After hitting $42,000 price level on Jan. 8, Bitcoin is unlikely to climb any higher until 2022, Minerd said:

“I think for the time being, we probably put in the top for bitcoin for the next year or so. And we're likely to see a full retracement back toward the 20,000 level.”

Despite Minerd’s bearish short-term Bitcoin prediction, the CIO apparently still maintains a stance that one bitcoin will be worth as much as $400,000 one day. In late 2020, when Bitcoin was on its way to cross its new ATHs, the CIO called for a $400,000 long-term price target for Bitcoin. He subsequently went bearish on BTC in the short term, claiming that "Bitcoin's parabolic rise is unsustainable in the near term" on Jan. 10.

Some in the crypto community have gotten mixed signals from Minerd’s varying predictions.

Guggenheim Partners moved into the crypto industry in late 2020 after the company filed an application with the United States Securities and Exchange Commission to “seek investment exposure to Bitcoin through Grayscale’s Bitcoin Trust product.

Minerd’s bearish Bitcoin prediction comes amid another negative Bitcoin correction, with BTC dipping below $34,000 on Jan. 20. As Cointelegraph reported, the selling pressure on Bitcoin mostly came from Asia in the first two weeks of January, while the United States market also started to see weakness amid a correction on Jan. 19.

Show Notes / News Resources:

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky and so is investing into Cryptocurrency. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

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[MeColinYouWho]

They are putting out as much fear as posable to get the price down as they are all lining up to buy it, as the dollar and all the other fiats are turning to dust.

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[mikedolan]

New to BTC, LOVE this channel! Thank you all for keeping us informed on this stuff, and thanks for all the comments, your followers give a ton of info. Thank you all! Working daily to get my first full coin!!!

[BringFacts]

He wishes $20k would come back so when their SEC filing finishes he can buy in cheaper. Institutional FUD so they can get you to sell them your btc. Screw them.

[peterwuwei]

Why do you even quote him when he shows he does NOT know what he is talking about. One week it's $400k and yesterday, down to $20k.

[God_of_Poets]

I may not be a whale, but I’m the meanest BTC tadpole In the pond. Holding 1 BTC 💪🏿 strong!

[savethedolphinsEgM]

If btc dropped to 20k and didn't go above 40k this year, it would break historical pattern and and change everything.

[CarlosMunoz-csru]

I have coinbase is bybit better?!? I have my coins on coinbase

[itsjimmy]

Investing in crypto is a more lucrative way of making money

[Jesse-hqvv]

This is how news should be a little of all perspectives for you to make your own judgement with the info at hand

[keoki]

Scott Minerd does not know who Jack is !! LOL

[hustlingmonk]

Really awesome video always ..keep up the hard work brada

[funkya]

Maybe they announced 400k prediction before stacking those Sats haha

[ThomasPH]

I’m not sure how you can say bitcoin is going up, while it’s obviously crashing down and blasting through support levels.

[aa-kr]

remember what is behind Grayscale, it is institutional investors, high net worth investors and some retail investors like myself

[ChuckDavis]

I agree with you 95%. Sure its possible to go to 20k but the probability I don't think it will👍👍🙂

[rammuh]

Maybe Bitcoin ends up like silver, 186 paper contracts for each BTC in existence 🤷🏻‍♂️

That would mean the price will be more like there are 3.9 billion Bitcoins (or at least half of that) in exitence one day...

[ashleymcintosh]

I dearly hope it goes up and above $50, 000 now .shmg

[krisc.]

Minerd is operating on feelings. Feelings are not facts.

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