blackrock analysts, blackrock bitcoin, blackrock crypto, blackrock cryptocurrency, Rick Rieder, Rick Rieder bitcoin, Rick Rieder crypto

Blackrock’s Chief Investment Officer, Rick Rieder, said cryptocurrency, including bitcoin, “is here to stay.†In addition, he said bitcoin is a durable mechanism that could replace gold.

Blackrock on Bitcoin and Gold

Rick Rieder, Blackrock’s Chief Investment Officer (CIO) of Global Fixed Income, talked about bitcoin replacing gold in an interview with CNBC’s Squawk Box on Friday.

Blackrock is the world’s largest asset manager, with more than $7.4 trillion in assets under management as of September. Rieder is also Blackrock’s Head of the Global Allocation Investment Team in the Multi-Asset Strategies Group.

Responding to a question about the price of bitcoin and gold and whether he is a bitcoin bull, Rieder said:

Rieder elaborated: “I think it is durable, and you’ve seen the central banks that have talked about digital currencies. I think digital currency and the receptivity — particularly millennials’ receptivity — of technology and cryptocurrency is real. Digital payment systems are real, so I think bitcoin is here to stay.â€

In terms of whether he is a bitcoin bull, Rieder said: “I don’t do a lot of it, or much any of it, in my portfolios, my corporate portfolios, my business portfolios.†While stating that “It’s hard to say whether it’s [bitcoin’s] worth the price it is trading at today,†he affirmed:

Reid’s comments were very welcome in the crypto community. Former Goldman Sachs hedge fund manager Raoul Pal tweeted: “This is huge news. This is the largest asset management firm on earth. 2021 is setting up to be a year of severe supply shortages vs. demand in bitcoin, and upside price dislocations.â€

Thomas Lee, Head of Research at Fundstrat Global Advisors, commented that bitcoin is “killing it this year — it’s just crushing all other hedges and asset classes this year, but in 2021 I think bitcoin could be the year of the fireworks … the best is probably yet to come.â€

The Blackrock chief investment officer’s comments followed a string of other hedge fund managers saying that they own bitcoin, including Paul Tudor Jones, Bill Miller, and Stan Druckenmiller.

What do you think about the Blackrock executive’s view on bitcoin? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

World’s Largest Asset Manager Blackrock: Cryptocurrency Could Become a ‘Great Asset Class’

The CEO of Blackrock, the world’s largest asset manager, says that he is fascinated by cryptocurrency, believing that it could become a “great asset class.†However, he said that Blackrock has not received many inquiries from its institutional clients about having bitcoin in their portfolios. Blackrock’s CEO ‘Fascinated’ About Crypto Following Coinbase’s IPO via a […]

Xem chi tiết: World’s Largest Asset Manager Blackrock: Cryptocurrency Could Become a ‘Great Asset Class’

Blackrock Executive Says Gold Now Less Effective Hedge Against Inflation

A portfolio manager and member of Blackrock’s Global Allocation Fund says gold is now a less effective hedge against inflation as well as moves in other assets such as stocks. In comments that appear to undercut the precious metal’s renowned status, Russ Koesterich claims that “gold’s ability to hedge against inflation has been somewhat exaggerated.†[…]

Xem chi tiết: Blackrock Executive Says Gold Now Less Effective Hedge Against Inflation

World’s Largest Asset Manager Blackrock Enters Bitcoin Space — Discusses What’s Driving Up BTC Price

The world’s largest asset manager with almost $9 trillion in assets under management, Blackrock, has started investing in bitcoin. Sharing his view on what’s driving up the price of the cryptocurrency, the firm’s chief investment officer says the technology and the regulation have evolved to where people find bitcoin should be part of their portfolios. […]

Xem chi tiết: World’s Largest Asset Manager Blackrock Enters Bitcoin Space — Discusses What’s Driving Up BTC Price

World’s Largest Asset Manager Blackrock Enters Bitcoin Space — Discusses What’s Driving Up BTC Price

The world’s largest asset manager with almost $9 trillion in assets under management, Blackrock, has started investing in bitcoin. Sharing his view on what’s driving up the price of the cryptocurrency, the firm’s chief investment officer says the technology and the regulation have evolved to where people find bitcoin should be part of their portfolios. […]

Xem chi tiết: World’s Largest Asset Manager Blackrock Enters Bitcoin Space — Discusses What’s Driving Up BTC Price

World’s Largest Asset Manager Blackrock to Invest in Bitcoin Futures

Blackrock, the world’s largest asset manager with $7.81 trillion under management, is getting into bitcoin. The firm has filed with the U.S. Securities and Exchange Commission (SEC) for two of its funds to invest in bitcoin futures. Blackrock Gets Into Bitcoin Blackrock filed two “statements of additional information†with the SEC on Wednesday. One was […]

Xem chi tiết: World’s Largest Asset Manager Blackrock to Invest in Bitcoin Futures

Financial Analysts Expect US Dollar to Soften Further, 2021 Could Be the Greenback’s ‘Worst Year Ever’

Well before the coronavirus pandemic, global economists expected a grim-looking American economy and during the last ten months of the Covid-19 outbreak, the U.S. financial system looks even worse. Economists and analysts say the biggest concern is the U.S. dollar faltering into the unknown, as a great number of distinguished individuals believe the USD will […]

Xem chi tiết: Financial Analysts Expect US Dollar to Soften Further, 2021 Could Be the Greenback’s ‘Worst Year Ever’

Blackrock CEO Larry Fink: Bitcoin Makes US Dollar Less Relevant, Can Evolve Into a Global Market

The CEO of Blackrock, the world’s largest asset manager, said that bitcoin “can evolve into a global market.†Moreover, the cryptocurrency has a “real impact on the U.S. dollar,†making the need for the USD “less relevant.†Bitcoin Evolving Into a Global Market Blackrock CEO Larry Fink made some bullish statements about bitcoin in a […]

Xem chi tiết: Blackrock CEO Larry Fink: Bitcoin Makes US Dollar Less Relevant, Can Evolve Into a Global Market

Blackrock’s Chief Investment Officer: Cryptocurrency Is Here to Stay, Bitcoin Could Replace Gold

Blackrock’s Chief Investment Officer, Rick Rieder, said cryptocurrency, including bitcoin, “is here to stay.†In addition, he said bitcoin is a durable mechanism that could replace gold. Blackrock on Bitcoin and Gold Rick Rieder, Blackrock’s Chief Investment Officer (CIO) of Global Fixed Income, talked about bitcoin replacing gold in an interview with CNBC’s Squawk Box […]

Xem chi tiết: Blackrock’s Chief Investment Officer: Cryptocurrency Is Here to Stay, Bitcoin Could Replace Gold

Concordium Debuts its Business-Oriented Blockchain Mainnet

Doge in Brooklyn: A Local Apparel Store Starts Accepting the Famed Crypto

Iran’s President Wants Crypto ‘Laws and Instructions’ Implemented as Soon as Possible

South African Court Submissions Expose Lies and Deceptive Tactics Used to Perpetuate MTI Bitcoin Ponzi Scheme

Denmark to Revise Tax Law to Target Cryptocurrencies

Report: Document Shows Specific Bitcoin Miners in Xinjiang Instructed to Shut Down

$160 Billion Asset Manager Entering Crypto Market in Collaboration With Nasdaq

Coinbase Says Interest From Pension Funds and Hedge Funds Has Skyrocketed, Institutional Holdings Soar 170%

Other Articles