Let’s take a deep dive into this PNC and BlackRock connection with XRP and Ripple.
2018 we get the news that PNC joins RippleNet.
2019 we get the news that PNC is going to start using RippleNet
All the amazing news! PNC is only the 8th largest bank in the United States…..ONLY.
So how does BlackRock play into all of this? PNC actually owns 22% of BlackRock. PNC holds a minority ownership stake in BlackRock, one of the largest publicly traded investment management firms in the country. BlackRock works on behalf of institutional and individual investors worldwide through a variety of equity, fixed income, liquidity, and alternative investment products. In addition, it provides risk management, investment system outsourcing, and financial advisory services to a growing number of institutional investors.
BlackRock, which is the largest asset management firm in the world with roughly $7 trillion in assets under management, has long declared an interest in cryptocurrencies and other alternative investments. Back in April of 2019, BlackRock hired a form Ripple executive Robbie Mitchnick who is now set to lead BlackRock digital asset team. Coincidence….I think not.
Mitchnick has been involved in the crypto sector for a few years now and is regarded as one of the best minds behind Ripple. The former Ripple exec has a deep understanding of cryptocurrencies and their underlying technology, and he is said to be interested in solving some of the murkiness around how investors view digital currencies.
Get a load of this: Robbie also said that XRP had about a 25% chance of success. Back in April, he said the current fair value $1.59 – $8.23, Success Value $32.91, Failure Value $6.37. Do you think these numbers have gone up now?
So why would BlackRock, which PNC owns 22% of whom we might mention is a Ripple partner and has been pushing forward for the past 2 years hire a Ripple Executive to lead there Digital Asset team? Why on earth would they do that? XRP is the future! Comment below on your thoughts…..but we see what’s going on here.
“Tuesday, @blackrock, the largest asset manager in the world..said it would undergo a massive management overhaul..to focus on alternative investments.. BlackRock..recently hired former #Ripple product marketer Robbie Mitchnick to its Digital Wealth team”https://t.co/porftY8CRI
— Florian Köhler (@Florian7788) April 3, 2019
So @blackrock CEO Laurence D. Fink just endorsed on @CNBC the use case of $XRP and @Ripple. "Think about all the people who send money back home, they do that through organizations that charge 5-10%. There is a need (..) to democratize the exchange of foreign currencies." pic.twitter.com/OARcO6Y9zd
— Marijn (@Mmmarinos) July 20, 2019