QCP Capital Co-founder: BlackRock’s Entrance into the Encryption Field is More Important Than the U.S. Presidential Election

PANews reported on October 31st that Darius Sit, co-founder and chief investment officer of QCP Capital, a Singaporean encryption trading company, believes that the entry of BlackRock, the world's largest asset management company, into the encryption field is more important than the U.S. presidential election. Although the support of Republican candidate Trump may cause short-term market fluctuation, Sit pointed out that BlackRock's BTC ETF has brought cryptocurrency into the mainstream investment field. Sit stated that when BlackRock CEO Larry Fink publicly stated on CNBC that BTC is a "store of value," it marked the elevation of cryptocurrency's position in the U.S. investment market. In addition, Sit also pointed out that although Trump promised to create a more friendly encryption policy during his campaign, the global market's potential for rise still remains to be seen. QCP has recently expanded its business in Abu Dhabi, where regulatory authorities consider digital assets as part of the Capital Market, providing a stable market environment.