Bitcoin obeys law of gravity, drops $1,200

The world’s biggest asset manager, BlackRock recently announced it was looking for a vice president in helping the company assess the fundamental value of crypto assets.

What you must know: The company via its web page further disclosed the new job listing that the successful candidate must have as the company’s blockchain lead in New York.

READ: Bitcoin’s market value now $468 billion, bigger than GDP of Africa’s largest economy

The report said the candidate must have 1 year of experience in articulating the technological foundations of blockchain technology including cryptographic hash functions, distributed network consensus mechanisms, and public-private key cryptography; devising and articulating fundamental valuation methodologies for crypto-assets; evaluating game theory and decentralizing governance models associated with blockchain technology; and working with key drivers of blockchain networks’ design and their impact on the four key dimensions of blockchain performance including speed, scalability, privacy, and security.

READ: Bitcoin on rampage, now worth over N10 million

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As of September 30, 2020, BlackRock managed approximately $7.81 trillion in assets on behalf of investors worldwide.

Recall some weeks back, BlackRock CEO, Larry Fink, revealed that the flagship crypto was on his company’s radar amid the rapid gains recorded by Bitcoin this year alone.

READ: Fear of U.S Financial regulators cripple XRP, tumbles by 61%

Speaking at the Council on Foreign Relations alongside Mark Carney, former Governor of the Bank of England, Fink said, “Bitcoin has caught the attention and the imagination of many people. Still untested, pretty small relative to other markets.”

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“Can it evolve into a global market? Possibly,” Fink added.

READ: $66.5 billion worth of Bitcoin lost forever

Also, the BlackRock CIO of Fixed Income, Rick Rieder, buttressed his bias on why Cryptos are here to stay, taking into account its role in payments among the world’s millennials:

“I think cryptocurrency is here to stay and I think it is durable and you’ve seen the central banks that have talked about digital currencies. I think digital currency and the receptivity, particularly millennials’ receptivity to technology and cryptocurrency is real. Digital payments systems are real, so I think Bitcoin is here to stay.”

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READ: World’s biggest crypto exchange says Bitcoin will replace gold

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