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Just-In: Blackrock Managing Director Says Bitcoin is Durable

Bitcoin

coingape.com 13 May 2021 15:55, UTC
  
Reading time: ~1 m

Rick Reider, the managing director of the world’s largest asset manager Blackrock in a recent interview with CNBC said that Bitcoin has proven its durability and has shown that it would be a part of the Financial for many years to come. The managing director also believes that the top cryptocurrency is yet to reach its maturity.

“Bitcoin is an interesting asset. It has not reached maturity yet.”

"Bitcoin is an interesting asset. It is one that has not reached maturity yet," BlackRock's @RickRieder #btc #bitcoin. "I think it's durable. I think it will be part of the investment arena for years to come … but these challenges are real. They will be overcome over time." pic.twitter.com/EentcYawQN

— Squawk Box (@SquawkCNBC) May 13, 2021

The acknowledgment from the world’s largest asset manager reinforces the growing confidence of wall street giants in the top cryptocurrency. Recently, the firm in its quarterly monetary report mentioned that it had bought a few millions worth of Bitcoin futures in January this year.

BlackRock is also among the former critics turned a Bitcoin admirer as the CEO of the firm had called BTC a money-laundering tool for scammers a few years ago.


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