tl;dr
BlackRock's CEO Larry Fink expressed support for Bitcoin as a legitimate financial asset, stating that everyone should consider holding it in their portfolio. This statement followed BlackRock's better-than-expected second quarter earnings, with their iShares Bitcoin Trust adding $4 billion in asset...
BlackRock's Larry Fink endorses Bitcoin as a legitimate financial asset for all portfolios.
BlackRock's CEO Larry Fink expressed support for Bitcoin as a legitimate financial asset, stating that everyone should consider holding it in their portfolio. This statement followed BlackRock's better-than-expected second quarter earnings, with their iShares Bitcoin Trust adding $4 billion in assets during the quarter. Fink highlighted Bitcoin's potential for uncorrelated returns and financial control, suggesting it as an alternative investment.
BlackRock's second quarter earnings exceed expectations; iShares Bitcoin Trust gains $4 billion in assets.
BlackRock's better-than-expected second quarter earnings saw their iShares Bitcoin Trust adding $4 billion in assets. BlackRock's CEO Larry Fink reiterated his belief that Bitcoin is a financial asset that everybody should consider holding as part of their portfolio. The iShares Bitcoin Trust has accumulated more than $18 billion since its launch in January, including $4 billion in the second quarter.
More about BlackRock Inc
BlackRock Inc Stock Analysis
BlackRock, Inc. is currently trading in the range of $20.10 to $39.33.
The stock's 52-week high is at $123.09, with a 52-week low of $21.05.
The trading volume is at 18,343,999, with a market capitalization of $123,036,336,000.
The Relative Strength Index (RSI) is at 37.2, indicating a neutral position.
The stock has a 0.323 beta, suggesting a moderate correlation with the market.
BlackRock, Inc. has a support level at $20.10 and a resistance level at $39.33.
Based on the data, the stock is currently in a neutral position with potential for a breakout in either direction.