BlackRock: Bitcoin could replace gold
BlackRock s chief investment officer Rick Rieder said that Bitcoin could replace gold.
Wow. BlackRock CIO of Fixed Income Rick Rieder talking about Bitcoin replacing gold on CNBC this morning. pic.twitter.com/9KZR0muJVp
— Pomp 🌪 (@APompliano) November 20, 2020
“I think cryptocurrency isn t going anywhere,” said Rieder in an interview with CNBC.
He noted that Bitcoin represents a reliable mechanism that is “much more functional” than a gold bar.
Rieder added that there is little focus on cryptocurrency-related issues, and Bitcoin itself is not widely represented in his business and corporate portfolios.
BlackRock, Inc. — one of the world s largest investment companies. Assets under management exceed $7 trillion.
In late 2018, BlackRock chief executive Larry Fink said the firm would refrain from launching cryptocurrency ETFs due to the industry s insufficient maturity.
As reported, CitiBank managing director Tom Fitzpatrick called Bitcoin the digital gold of the 21st century and predicted it would reach $318,315 by the end of 2021.
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