BlackRock, the world’s largest money manager, is starting to “dabble” in Bitcoin

www.cnbc.com/2021/02/17/blackrock-has-started-to-dabble-in-bitcoin-says-rick-rieder.html

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.

READ  Gold Declines Despite Powell’s Easy Money Stance

“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.”

READ  Separate Your Money from Your Emotions with Bob Wheeler

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.

1,498 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.