BlackRock asset strategist: Bitcoin’s development interesting, yet still risky

The recent economic forum at Davos among other participants saw the CEO of BlackRock who called Bitcoin a money laundering tool. But the strategist responsible for assets and investments in the same firm has a bit more friendly approach towards Bitcoin and the cryptocurrency market in general.

Speaking with Bloomberg, Isabelle Mateos y Lago made clear that Bitcoin was not something she would recommend for investors, but the growth of industry despite all misfortunes like hack attacks and regulators’ restrictions demonstrates that something indeed backs it.

Isabelle Mateos Y Lago, global chief multi-asset strategist at BlackRock Investment Institute, says Bitcoin isn't investable "at this stage" https://t.co/1808eRwzNO pic.twitter.com/8jgKsUH9Jg

— Bloomberg TV (@BloombergTV) January 29, 2018

Another very respectable asset manager and investor, Warren Buffett, is very skeptical towards Bitcoin. In older reports, he called Bitcoin a bubble and admitted he does not fully know its structure. Billionaire Michael Bloomberg advised to focus more on the blockchain, the technology which underlies cryptocurrency, and use it for other purposes. Elon Musk, while preferring not voice his views on cryptocurrency very often, had to reject rumors about him being a creator of Bitcoin. Another member of the so-called “PayPal Mafia”, Peter Thiel, said he was skeptical about cryptocurrencies, but Bitcoin could serve as a reserve form of money.

Image courtesy of Daniel Acker/Bloomberg News