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It was another red letter day for crypto watchers as the industry continued its surge. Global market capitalization reached $1.68 trillion over night before settling around the $1.6 trillion mark.

The growth has come thanks to Bitcoin’s sustained run above $51,000 driven by a litany of new investors entering the space. 

Chief among them yesterday were Motley Fool, the hugely popular investing site, and BlackRock the world’s largest asset manager. The Fool announced it had invested $5 million with a view the asset will “10x” in value over the long term. 

BlackRock meanwhile, which manages $8.67 trillion worth of assets – more than the GDPs of the UK, India and Canada combined – has formerly thrown its hat in Bitcoin’s ring. 

The announcement made by Rick Rieder, BlackRocks CIO on CNBC yesterday led to a surge in Bitcoin’s price above $52,000. 

(Read more)

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