One Cryptocurrency I'd Buy Right Now

If there is one crypto to buy right now, it's Bitcoin (CRYPTO: BTC). There is a paradigm shift happening in the investment world right now, and Bitcoin is the reason. In early August, Coinbase (NASDAQ: COIN) announced that it was linking with the world's largest asset manager, BlackRock (NYSE: BLK), to offer crypto investment services for large institutional investors and wealthy private clients. To translate this into everyday language, Bitcoin is now safe for the big guys to buy.

Within hours of the announcement, wild price predictions about Bitcoin began to circulate, going as high as and $773,000 (from about $24,000 today). You get the idea. The Coinbase/BlackRock news is that big. In a nutshell, the partnership deal means that the largest institutional investors -- like pension funds, mutual funds, foundations and endowments -- can buy crypto, and more specifically Bitcoin. With the potential for so much money chasing after it, there is going to be upward pressure on the price of Bitcoin. The time to get in is now, before it's too late.

To understand the magnitude of the Coinbase/BlackRock deal, consider that Forbes called it a "$10 trillion earthquake." That's because BlackRock manages $10 trillion in assets from some of the largest institutional investors in the world. Even if you take a conservative view, BlackRock clients will likely begin to allocate a small percentage of their assets (say, 1%) to crypto. Even that small change in allocation might be enough to send Bitcoin soaring. That's because we're dealing with large numbers here. One percent of $10 trillion is $100 billion, all of which will be looking to find a new home in the crypto world. To put that number into context, the total market cap of Bitcoin right now is about $460 billion.

Source Fool.com