Bitcoin has risen above $ 24,000

On Monday, August 8, bitcoin rose to $ 24,000 for the first time in a long time. Probably one of the things that could have contributed to this is the recent announcement of a partnership between the investment company BlackRock and Coinbase. on August 4, Coinbase’s Head of Institutional Brett Tapol and Head of Institutional Product Greg Tusar published a blog post stating that Coinbase and BlackRock are going to «create new access points for institutional cryptocurrency.»

The blog post mentions that «Coinbase is partnering with BlackRock, the world’s largest asset manager, to provide institutional clients of Aladdin (BlackRock's end-to-end investment management platform) with direct access to cryptocurrency through a connection to Coinbase Prime.»

Apparently, Coinbase Prime «will provide crypto trading, custody, prime brokerage and reporting for Aladdin’s institutional client base that is also a Coinbase client.»

Joseph Chalom, global head of strategic ecosystem partnerships at BlackRock, emphasized:
«Our institutional clients are increasingly interested in accessing digital asset markets. They are focused on how to effectively manage the operational lifecycle of these assets. By partnering with Aladdin, they will be able to manage their risks on their own.»