Although the short-term technical outlook for Bitcoin is not very encouraging, we see that the adoption towards cryptocurrencies is increasing day by day. Although the short-term fluctuations in Bitcoin annoy investors, the expectations of many companies and organizations regarding cryptocurrencies remain positive.
A Bitcoin investor at Blackrock, whose moves are closely watched for being the world’s largest asset manager.
The company’s CIO Rick Rieder made important statements about Bitcoin in the program he attended on CNBC. Announcing that he owns Bitcoin, the famous CIO said that he believes the price could rise significantly in the future.
With $9.49 trillion in assets under his management, Rieder has described Bitcoin as an alternative currency.
“I own a small amount of Bitcoin, and this aspect makes me think that over time there will be more people who will take up this challenge. I love beings that are constantly rising and volatile. I can see Bitcoin going up significantly as it is now.”
“For me, as a speculative tool, holding some Bitcoin is necessary and it has value.”
In addition to direct Bitcoin investment, Blackrock also invests in companies operating in this field. In documents filed with the SEC, the company announced that it has invested $382 million in Bitcoin mining giants Marathon Digital Holdings and Riot Blockchain.
BlockRock’s interest in Bitcoin is considered to have increased the desire of other funds and institutions for exposure to Bitcoin.