Asset Manager BlackRock May Increase Bitcoin Exposure, Says Rick Rieder
According to Rick Rieder, head of global allocation at BlackRock, the asset manager may increase its Bitcoin exposure in the future. Currently, BlackRock holds a small amount of Bitcoin, but Rieder suggests that this could change based on public sentiment.
BlackRock’s Evolution in Bitcoin
BlackRock is one of the world’s largest asset managers with $9.1 trillion in assets under management. While CEO Larry Fink previously criticized Bitcoin, he now sees it as digital gold and supports cryptocurrencies as global assets. BlackRock recently obtained approval for its spot Bitcoin ETF application.
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Rieder Sees Increased Accessibility
Rieder believes that increased adoption of Bitcoin will lead to greater accessibility and acceptance. He sees significant upside potential for the cryptocurrency and has even suggested that it could replace gold due to its functionality.
The post BlackRock’s Rick Rieder Hints at Expanded Bitcoin Exposure appeared first on Cryptonews.
