Blackrock Financial management Inc., appears to be ready to dip its feet even further into the crypto space. The $7.8 Trillion behemoth posted a new job opening, with the company looking for a vice president Blockchain lead for its New York office.
The successful candidate will be tasked with creating and implementing “strategies designed to drive demand for the firm’s offerings,” as well as “enhance the value proposition of the firm’s investments and technology offerings.”
According to the job posting, the candidate must have at least one year experience in Blockchain business, including “cryptographic hash functions, distributed network consensus mechanisms, and public-private key cryptography.”
The job post did not mention any Blockchain-related products of interest for the firm. Speculation suggests that BlackRock could be positioning itself to leave a significant footprint in the digital asset space. More speculation arising brought about by a Forbes report this year indicates that some investors are walking away from Blackrock’s long-term investment products. According to the report, investors are slowly abandoning some of Blackrock’s investment vehicles for crypto funds offered by Grayscale and others.
Initial crypto skepticism from the top brass at the $7.8 Trillion asset manager has morphed into an endorsement by top executives at the firm. The company’s CEO Larry Fink has spoken favorably of Bitcoin and the wider digital asset market stating;
Bitcoin has “caught the attention and the imagination of many people,” including those who work at BlackRock.
The asset manager’s CIO of fixed income Rick Rieder chimed in by saying that Bitcoin was not only here to stay but here to “take the place of gold to a large extent.”
The job opening announced by BlackRock speaks to the entry of smart money into the current bull market cycle. Market entrants the size of BlackRock will most likely add to the price rally atleast in the short term as the bulls push on.
Image Courtesy of investopedia
