BlackRock’s Rick Rieder told CNBC on Wednesday the world’s largest asset manager has begun entering the bitcoin space.
The remarks from Rieder, who is BlackRock’s chief investment officer of global fixed income, came on the same day bitcoin broke above $51,000 for the first time.
“Today the volatility of it is extraordinary, but listen, people are looking for storehouses of value,” Rieder said on “Squawk Box.” “People are looking for places that could appreciate under the assumption that inflation moves higher and that debts are building, so we’ve started to dabble a bit into it.”
In January, BlackRock added bitcoin futures as an potential investment for two of its funds, according to filings with the Securities and Exchange Commission. The funds are BlackRock Strategic Income Opportunities and BlackRock Global Allocation Fund.