BlackRock CIO Says ‘Bitcoin Will Take The Place Of Gold To A Large Extent’

By: - November 21, 2020

Bitcoin Suisse AG Head Quarter reception desk
Image by Androphilijaslobodna

A senior executive at BlockRock, the world’s largest asset manager, admits that Bitcoin (BTC) has become a permanent fixture in the global financial system, offering yet another tangible sign that the narrative surrounding digital currency has changed. 

Rick Rieder, BlackRock’s CIO of Fixed Income, told CNBC on Friday that, “Bitcoin is here to stay.”

While conceding that he is not a Bitcoin bull, Rieder said the flagship currency “will take the place of gold to a large extent [because] it is so more functional than passing a bar of gold around…”

To read more visit CoinTelegraph.

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