BlackRock Chief Investment Officer Considers Boosting Bitcoin Exposure, Believes in Genuine Upside Potential

By Daisy Hodley Feb 11, 202457Views

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BlackRock Considers Increasing Bitcoin Holdings, Says CIO

Rick Rieder, the chief investment officer of BlackRock, has suggested that the asset management giant may increase its holdings of Bitcoin (BTC). While BlackRock currently holds a “very small” amount of BTC, Rieder believes that the firm’s exposure to the cryptocurrency could evolve in line with changing public attitudes towards it.

Rieder expressed his belief that as more people become comfortable with owning and trading Bitcoin, its upside potential will be recognized. BlackRock recently launched its iShares spot Bitcoin exchange-traded fund (ETF) and has reportedly accumulated billions of dollars worth of BTC to support it.

In a separate interview, BlackRock CEO Larry Fink also expressed his confidence in Bitcoin as a legitimate store-of-value asset. He sees it as an alternative source of wealth holding that can protect against uncertainty, similar to gold but with a limited supply.

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