BlackRock: Cryptocurrencies Won't Become Part Of Mainstream Investment Portfolios Anytime Soon
BlackRock's weekly commentary takes a look at price volatility in cryptocurrencies this week. The firm compares price volatility of Bitcoin, Ethereum, and Ripple against US equities and Gold, saying that
"The volatility of the cryptocurrencies makes the gyrations in the U.S. equity market during the global financial crisis almost look placid."
Looking at this chart, that might be an understatement.
The firm does paint a rosier picture for cryptocurrencies and blockchain in the future, however.
"We see cryptocurrencies potentially becoming more widely used in the future as the markets mature. Similarly, blockchain needs to overcome significant hurdles to reach its promising future" says the note.