BlackRock has started to 'dabble' in crypto, says CIO

BlackRock has started to 'dabble' in crypto, says CIO


Rick Rieder, chief investment officer at BlackRock Financial Management, hinted that the firm ha already invested a percentage of its portfolio into crypto.

In an interview with CNBC’s Squawk Box on Wednesday, Rieder said BlackRock — with more than $8.6 trillion in assets under management — has “started to dabble a bit” into crypto investments. The chief investment officer described the volatility of cryptocurrencies like Bitcoin (BTC) as “extraordinary” but acknowledged that many investors were looking for “places that appreciate under the assumption that inflation moves higher as debts are building.”

“Holding some portion of what you hold in cash in things like crypto seems to make some sense to me, but I wouldn’t espouse a certain allocation or target holding,” said Reider. “My sense is the technology has evolved and the regulations have evolved to the point where a number of people find it should be part of the portfolio.”

Trending: Joe Biden Just Shorted Out Again In Very Embarrassing Malfunction

Rieder did not specify what percentage of BlackRock’s

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend