What's More Important: BlackRock Trading Crypto or 7.5% Inflation?

Crypto is being driven in different directions by different market forces.

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This episode is sponsored by Nexo, Arculus, FTX US and MELD.com.

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Today Twitter was alight with discussion of the biggest inflation print since 1982. With 7.5% inflation, a hike of 50 basis points is looking more and more likely in March. This should be bad news for risk assets. On the other hand, bitcoin and crypto are being buoyed by other macro forces. Notably, news broke yesterday that the world’s largest asset manager, BlackRock, is likely to begin allowing clients to trade crypto. As many have pointed out – it’s hard to be bearish when that type of adoption is happening. So which of these forces have a stronger impact on bitcoin and crypto?

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Vision” by OBOY. Image credit: Spencer Platt/Getty Images News, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

HOST

Nathaniel Whittemore

NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.