- Bitcoin is “is here to stay,” BlackRock’s chief investment officer of fixed income Rick Rieder told CNBC on Friday.
- Rieder pointed to millenials openness to cryptocurrencies and digital payments as one reason why the popular crypto currency isn’t going anywhere.
- While Rieder said he doesn’t own bitcoin in his own portfolio, he does see potential for bitcoin to “take the place of gold to a large extent,” according to the interview.
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Bitcoin isn’t going anywhere, according to BlackRock’s CIO of fixed income Rick Rieder.
In an interview with CNBC on Friday, Rieder said bitcoin is “here to stay” thanks to millenials’ openness to the cryptocurrency and digital payments in general.
The comments come in a month where bitcoin has surged 37% to levels not seen since its run to just under $20,000 in December of 2017.
Rieder believes bitcoin has