Among the rich crypto news of the weekend, it is interesting to note the media intervention of Rick Rieder on the CNBC channel. Who is Rick Rieder? Just the chief investment officer at Blackrock, the world’s largest asset manager! Find out what he said about Bitcoin for the occasion.
Blackrock, a financial giant that leans more and more on cryptos
We no longer present Blackrock! Company of all fantasies, it combines all the superlatives. With over $ 9.5 trillion under its wing, Blackrock is the largest investment fund in the world ! Suffice to say that the strategy of such a juggernaut vis-à-vis cryptocurrencies is closely observed.
Exactly, what does the company think of cryptocurrencies? Her position is interesting because, like many, she has come to change over time. Thus, in 2018, the group, through the voice of its CEO, loudly proclaimed not to be interested in cryptos. Then, in 2020, Blackrock’s stance eased somewhat. Thus, Rick Rieder, its chief investment officer, had declared to be open to the idea of investing in cryptos.
The opinion of the Blackrock investment director on Bitcoin!
Exactly, the same Rick Rieder spoke about Bitcoin last Friday on CNBC. What did he say? At first, Rick Rieder spoke about the popular idea that Bitcoin was a safe haven. However, for him, he is very reserved about this idea because of the excessive volatility of Bitcoin. However, that does not mean that he does not believe in cryptos. Far from there ! Later in the interview, Rick Rieder has declared owning Bitcoin, thinking that cryptocurrency is an “alternative currency”.
“Part of the reason I own a little bit of Bitcoin is that I think there will be more and more people going into the fray over time… I like volatile assets that have convexity. on the rise. Rick Rieder, Director of Investments at Blackrock
Another notable fact from this interview is the fact that Rick Rieder sees a bright future in Bitcoin! Indeed, he declared “Consider that Bitcoin could increase considerably” in the future. Finally, he admitted that Blackrock’s portfolio had a small share of cryptocurrencies. Even though this share is still low, Blackrock has changed its opinion on cryptos and now counts above for the future. A fact that increasingly confirms the democratization of cryptos in the financial landscape.