BlackRock doesn’t want to recommend crypto for hedge investment in current conditions
BlackRock is not recommending crypto as a hedge right now, despite holding $48 billion in Bitcoin and $2 billion in ETH. They’re predicting a recession and still not pushing crypto.
Jean Boivin, head of the BlackRock Investment Institute, said the market’s too unstable and the risks are piling up. “Trade tensions have triggered a risk asset selloff,” Jean said in a note to clients on Tuesday.
This came after president Donald Trump pushed for new tariffs on foreign countries. That announcement blew up the market late last week. Traders panicked. Stocks got dumped. Investors scrambled for anything safe.
BlackRock immediately downgraded U.S. stocks from “overweight” to “neutral” and turned toward short-term U.S….
