BlackRock chief investment officer Rick Rieder today on CNBC said that their firm has started to dabble into Bitcoin just days after America’s oldest custody bank BNY Mellon announced Bitcoin and crypto custody service. During the interview, Rieder said that the technology of Bitcoin has evolved to a point where asset managers and investors think it should be a part of their investment portfolio.
He said,
” I won’t comment or give a number on how much BlackRock holds in its portfolio, however looking at its growing demand I would say we have started to dabble in it. “
He added,
“My sense is that technology and regulation has evolved to the point where a number of people think it should be a part of their portfolio.”
"My sense is that technology and regulation has evolved to the point where a number of people think it should be a part of their portfolio." @RickRieder explains the record moves higher in #BTC: pic.twitter.com/XLsGA9kYjc
— Squawk Box (@SquawkCNBC) February 17, 2021
Rieder’s comment comes just days after BlackRock invested in Bitcoin Futures and has also increased its exposure in MicroStrategy’s stocks showing its bullish stance towards the top cryptocurrency. However, only in 2017, just like many other financial giants BlackRock CEO has discarded bitcoin calling it a sophisticated money-laundering scheme.
This Story is being updated