Rick Rieder, one of the executives of BlackRock, which has $ 7.4 trillion in assets under its management, said Bitcoin is better than gold.
Rick Rieder, one of the executives of BlackRock, the world’s largest asset manager, made statements about Bitcoin in his CNBC broadcast.
Responding to the question of whether states will try to regulate the leading crypto currency if the Bitcoin price continues to rise, Rieder said he thinks Bitcoin will be permanent.
Rieder continues, “Do I think there is a durable mechanism that can replace gold on a large scale? Yes, I think so, because it’s much more functional than having a nugget of gold around. ” said.
The BlackRock manager further emphasized that there is no “Bitcoin bull” and that they do not include crypto money in corporate portfolios. He also stated that he is undecided as to whether Bitcoin is worth its current price of over $ 18,000.
According to 2019 data, the total value of assets under BlackRock’s management is $ 7 trillion 430 billion.
Bitcoin is traded at $ 18,700 at 20.55, when the news was published.