Research Article
Anticipating the Future: An Exploration of the Business Transformation Undertaken by Blackrock Incorporation against the Presence of Cryptocurrencies
@INPROCEEDINGS{10.4108/eai.4-9-2024.2353581, author={William Ben Gunawan and Andrianto Widjaja}, title={Anticipating the Future: An Exploration of the Business Transformation Undertaken by Blackrock Incorporation against the Presence of Cryptocurrencies}, proceedings={Proceedings of the 7th International Conference of Economics, Business, and Entrepreneurship, ICEBE 2024, 4-5 September 2024, Shah Alam, Selangor, Malaysia}, publisher={EAI}, proceedings_a={ICEBE}, year={2024}, month={12}, keywords={transformation blackrock cryptocurrency business model blockchain}, doi={10.4108/eai.4-9-2024.2353581} }- William Ben Gunawan
Andrianto Widjaja
Year: 2024
Anticipating the Future: An Exploration of the Business Transformation Undertaken by Blackrock Incorporation against the Presence of Cryptocurrencies
ICEBE
EAI
DOI: 10.4108/eai.4-9-2024.2353581
Abstract
Investment firms like BlackRock play a crucial role in the global financial industry. In the context of the growing asset management and wealth management sectors, the adoption of cryptocurrency has become a key focus. This case study illustrates BlackRock's business transformation response to the emergence of cryptocurrency and its impact on the company’s operations. BlackRock has taken significant steps by adopting Bitcoin, including launching the iShares Bitcoin Trust (IBIT) and accumulating Bitcoin in its investment portfolio. This highlights BlackRock’s transformation in integrating crypto assets into its investment strategy, significantly influencing its position in the global financial markets. BlackRock's business transformation encompasses readiness in both technical and creative skills, as well as substantial business capabilities in managing traditional investment portfolios. They have also adapted their investment strategies to include digital assets, demonstrating strong adaptability and network development capabilities. BlackRock’s steps towards cryptocurrency adoption provide critical lessons for the financial industry. They illustrate that cryptocurrency adoption is not just a trend but also a part of a sustainable investment strategy. Lessons from BlackRock include the importance of digital adoption readiness, adaptability, and the exploration of new opportunities in business transformation.
