The crypto job sector has seriously grown over the past few years. There is now an unprecedented need for developers, designers and executives in the crypto space, and with a little help from Black Rock – one of the largest investment firms in the world – it looks like things are about to get a whole lot bigger.
Black Rock Is Looking for a New Crypto VP
Black Rock put out a job advertisement last week saying it was looking to hire a “crypto and blockchain-focused” executive. This person would serve as the vice president of the company’s new blockchain department and would “implement strategies designed to drive demand for the firm’s offerings,” according to the job description.
The ad was allegedly posted on Christmas and was immediately followed by bitcoin surging to its new all-time high beyond $27,000. It is believed the job ad may have pushed bitcoin forward, as well as several other smaller altcoins such as Litecoin and Ethereum, both of which also jumped heavily.
The posting further states that the person looking to earn the job must be able to “devise and articulate fundamental valuation methodologies for crypto assets; evaluate game theory and decentralizing governance models associated with blockchain technology.”
This is just more proof that the crypto space is growing like it never has been before. The arena has seen heavy growth within its borders over the past few months, with companies like PayPal now adding support for digital assets and digital asset purchases. Furthermore, several institutional companies are now seeing bitcoin as a store of value, and several firms – including MicroStrategy and Stone Ridge – have invested hundreds of millions of dollars into bitcoin and crypto.
With the world’s largest and most powerful digital currency by market cap still on the rise, many analysts are now wondering where bitcoin will go in the coming weeks. Alex Kruger – a crypto trader who believes Wall Street will soon have a stronger hand in bitcoin and crypto dealings – stated in a recent interview:
The key bitcoin levels the market has in sight short-term are $30,000 and $36,000. New investors need to be able to stomach a 20 percent correction, as it will come, likely soon. I’m still expecting much higher prices in 2021, and so long as leverage and positioning don’t become too extreme, as measured by funding rates and open interest metrics, I won’t be worried about the downside. I bet many big names will soon be announcing fresh bitcoin positions. Others are still to follow.
A Big BTC Fan
Black Rock itself has always been a huge BTC advocate, with its chief investment officer Rick Rieder going so far as to say in November that the digital currency would one day replace gold. He states:
Do I think [bitcoin is] a durable mechanism that could take the place of gold to a large extent? Yeah, I do.