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05 December 2020

Blackrock CIO: Cryptocurrency Is Here to Stay, Bitcoin Could Replace Gold | News Bitcoin News

Blackrock CIO: Cryptocurrency Is Here to Stay, Bitcoin Could Replace Gold | News Bitcoin News


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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.

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.

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

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:.

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