Why institutional investors are coming for bitcoin ?

BlackRock CIO: Bitcoin Is Here To Stay And Replace Gold

Bitcoin’s durable technology could make it take gold’s place in the digitizing world, believes the CIO of the world’s largest asset manager – BlackRock.

The Chief Investment Officer of the world’s largest asset manager, BlackRock, believes that Bitcoin and cryptocurrencies are here to stay. Although he hasn’t invested in BTC, Rick Rieder asserted that Bitcoin could “take the place of gold to a large extent.”

BlackRock’s CIO Believes In Bitcoin

Founded in 1988 in New York, BlackRock is an American global investment management corporation. In fact, it’s the world’s largest asset manager with over $7 trillion in AUM as of the end of 2019.

Its CIO, the person making the investment decisions, recently appeared on CNBC’s Squawk Box and discussed Bitcoin. Perhaps due to the recent price increases that led BTC to new highs, the primary cryptocurrency has become a hot topic of discussion among many traditional investors.

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