Seeking Alpha
2020-11-20 14:21:13

Now BlackRock on board with Bitcoin - 'Here to stay,' says Rick Rieder

Cryptocurrency fans have another big-name institutional type in the their corner, with BlackRock's CIO for fixed income Rick Rieder taking time during a CNBC appearance to suggest Bitcoin (BTC-USD) could "take the place of gold.""It's so much more functional than passing a bar of gold around," he tells Andrew Sorkin. Rieder does add that he's not necessarily a major bull on the price, and says he holds virtually none of it in his portfolios.In other news, Castle Island Ventures co-founder Nic Carter says the bull move in Bitcoin in 2020 is about so much more than its highly well-advertised "halving" earlier this year. He reminds that the 2017 bull run was in part fueled by investors buying Bitcoin as a channel to then invest in the ICO craze. This year, he says, folks are buying Bitcoin to own Bitcoin.Bitcoin this morning continues at its cycle high, trading hands at about

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer