Fun

News Feed - 2023-07-27 06:07:15

Helen Partz14 hours agoCrypto-friendly BlackRock starts ‘digital-first’ investment offering in IndiaAs BlackRock reiterates that an optimal investment allocation should include 84.9% BTC, the firm has formed a major investment partnership in India.3883 Total views17 Total sharesListen to article 0:00NewsJoin us on social networksGlobal investment giant BlackRock is expanding its reach in India with a partnership targeting the launch of the “digital-first offering” in India.


BlackRock, on July 26, officially announced a joint investment project with Jio Financial Services (JFS), an arm of Indian tycoon Mukesh Ambani’s Reliance Industries — India’s most-valued firm. The companies each plan to invest up to $150 million in the 50:50 joint venture.


Named “Jio BlackRock,” the project aims to provide “tech-enabled” access to “affordable, innovative investment solutions” to millions of investors in India, the announcement reads.


The venture will utilize BlackRock’s expertise and talent in investment management, tech access, operations, scale and market intellectual capital, the announcement said. JFS will in turn contribute to local market insights as well as digital infrastructure and execution capabilities.


The partnership will introduce a new player to the India market with a “unique combination of scope, scale, and resources,” the announcement notes. JFS CEO Hitesh Sethia stated:“The partnership will leverage BlackRock’s deep expertise in investment and risk management along with the technology capability and deep market expertise of JFS to drive digital delivery of products.”


The new joint venture is subject to regulatory and statutory approvals before its launch, the companies noted.


Related:BlackRock Bitcoin ETF could unlock $30 trillion worth of wealth, Bloomberg analyst says


While referring to the new product as the “digital-first offering” in India, BlackRock and JFS didn’t specify any concrete plans for cryptocurrencies, such as Bitcoin (BTC), or any type of digital assets. The firms didn’t immediately respond to Cointelegraph’s request to comment.


The news comes just as BlackRock analysts reiterate that an optimal investment allocation should include 84.9% BTC, 9% stocks and 6% real estate. The analysts previously made a similar claim in 2022.If all investors follow BlackRock’s optimal BTC allocation, Bitcoin will be worth more than 5x the total value of all equities, real estate, and bonds.

84.9% BTC and 15.1% everything else

If total global wealth is ~ $800T today, #Bitcoin would be $190M per coin. https://t.co/oMHzVEMLIU— Joe Burnett ()³ (@IIICapital) July 25, 2023


BlackRock has recently fueled notable bullish action on cryptocurrency markets by filing an application for a spot Bitcoin exchange-traded fund (ETF) in the United States. The U.S. Securities and Exchange Commission officially accepted BlackRock’s spot Bitcoin ETF application for review in mid-July.


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


Magazine:Hall of Flame: Wolf Of All Streets worries about a world where Bitcoin hits $1M# Bitcoin# Business# Investments# Partnership# Bitcoin Regulation# IndiaAdd reactionAdd reactionRelated NewsHow to track and report crypto transactions for tax purposesAI and dot-com bubble share some similarities but differ where it countsWhy is Jerome Powell gaslighting us about the odds of recession?BlackRock Bitcoin ETF could unlock $30 trillion worth of wealth, Bloomberg analyst saysCrypto will transcend international currencies — BlackRock CEOBitcoin rally will lead to "speculative blow-off top” in 2024, Mark Yusko predicts

News Feed

Prashant Jha1 hour agoBankrupt crypto lender Genesis sues Gemini to recover $689M of ‘preferential transfers’Genesis claims Gemini made preferential transfers of about $689 million from Genesis and wants the court to
Custodia CEO Slams US Government Over Broad Crackdown, Lack of Regulatory Clarity in Crypto Industry
Custodia CEO Slams US Government Over Broad Crackdown, Lack of Regulatory Clarity in Crypto Industry Caitlin Long, CEO of crypto bank Custodia, criticized the U.S. government for i
BlackRock imposters target crypto ETF investors
Arijit Sarkar1 hour agoBlackRock imposters target crypto ETF investorsBlackRock warns investors about a rise in crypto scams targeting its iShares Bitcoin and Ether ETFs, urging caution against social media impersonators
CPCoin (CPC) Is Now Available for Trading on LBank Exchange
CPCoin (CPC) Is Now Available for Trading on LBank Exchange press release PRESS RELEASE. INTERNET CITY, DUBAI, Jan 19, 2023 – LBank Exchange, a global digital asset trading p
Helen Partz13 hours agoMetaMask security partner Blockaid secures $33M fundingIn conjunction with the $33 million raise, Blockaid said it’s coming out of stealth with customers like MetaMask and OpenSea.1691 Total view
Bitcoin Price Shows Bearish Engulfment After Breakout, Here’s How Far The Price Could Crash
Este artículo también está disponible en español. The Bitcoin price action is raising concerns after a failed attempt to push past critical resistance levels, with bearis
Bitcoin eyes $58K CME gap next as 8% BTC price rout sees longs 'rekt'
William Suberg7 hours agoBitcoin eyes $58K CME gap next as 8% BTC price rout sees longs "rekt"BTC price weakness takes the market below $59,000 for the first time since mid-July as "relentless" Bitcoin selling
Bank of Russia Backs Crypto Mining Bill But Insists Minted Coins Should Be Exported
Bank of Russia Backs Crypto Mining Bill But Insists Minted Coins Should Be Exported The monetary authority in Moscow has expressed support for the latest legislative attempt to leg
BNB Price Surge: Upbeat Momentum Builds After $724 Breakout
Este artículo también está disponible en español. BNB has taken the spotlight with a powerful surge, breaking past the critical $724 resistance level and signaling the po
ECB Economists Suggest Limiting Access to Digital Euro to Protect Banks
ECB Economists Suggest Limiting Access to Digital Euro to Protect Banks A group of economists evaluating the potential effects of a digital euro have insisted that restricting acce
India’s Central Bank RBI Unveils Plan to Launch Digital Currency in Phases
India’s Central Bank RBI Unveils Plan to Launch Digital Currency in Phases The deputy governor of the Reserve Bank of India (RBI) has revealed that the central
Nigerian crypto community split over govt’s bid for Binance user data
Amaka Nwaokocha13 hours agoNigerian crypto community split over govt’s bid for Binance user dataChukwumaeze Dike, a crypto enthusiast and cybersecurity specialist, said he finds the request for the top 100 users surpri