The chief investment officer of the biggest asset management firm in the world is calling Bitcoin an asset with staying power.
Rick Rieder, CIO of global fixed income and head of the global allocation team at BlackRock, unveils his stance on Bitcoin in an interview on CNBC.
Rieder names what he sees as some challenges for the flagship crypto asset, but adds that he thinks BTC will eventually overcome them.
“Bitcoin is an interesting asset. It is one that has not reached maturity yet…
Some of the hurdles, the volatility etc., make Bitcoin an interesting asset… I think it’s durable. I think it will be part of the investment arena for years to come, but some of these challenges and the volatility around it, regulatory dynamics, etcetera, fiat currency concerns… These challenges are real, and they will be overcome over time and the asset is durable. It’s just not there yet as a normal, stable asset.”
