BlackRock’s CIO Rick Rieder stated in the Squawk Box program he participated in, that Bitcoin (BTC) could increase significantly:
After El Salvador’s official acceptance, Bitcoin fell to $ 42,800 after a short time, according to the $ 53,000 level.
Rieder noted that he likes assets with upside volatility. However, Rieder thinks that Bitcoin is not yet an independent asset class like gold and stocks.
Rieder is currently touting the leading crypto asset as a “speculative tool” to diversify the portfolio. He emphasizes that his company also has a moderate Bitcoin position.
BlackRock, one of the largest asset managers in the world, has a very positive stance on crypto assets. The company is known for investing hundreds of millions of dollars in crypto mining companies.
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