World's Largest Asset Manager BlackRock Confirms They're Looking Into Bitcoin

in DLIKE4 years ago

STEEM POSTS

The world's largest asset manager, BlackRock, is looking into Bitcoin. This was confirmed by the managing director of the company, Rick Rieder, today.

  • Rick Rieder, the managing director of BlackRock, the world's largest asset manager, confirmed that the company is looking into Bitcoin. "We've started to dabble a bit into it," he said, refusing to put a target allocation the company has.
  • In the interview with CNBC's SquawkBox, Rieder did say that diversifying one's portfolio in the current economic reality does make sense. He also said that BlackRock is currently sitting on a lot more cash than they have historically had because traditional hedges don't work.

We're holding a lot more cash than we've held historically because interest rates don't work as a hedge and diversifying in other assets makes some sense. So, holding some portion of what you hold in cash and things like crypto seems to make some sense to me.


Shared On DLIKE

New to Steemit?

Coin Marketplace

STEEM 0.23
TRX 0.25
JST 0.038
BTC 104609.68
ETH 3295.83
SBD 4.87