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- Rick Rieder of BlackRock has started to make payments in BTC
- He mentioned the potential future of BTC and that investing in other assets in the present times makes greater sense
- He has included two important funding units of his company into crypto
In a recent interview Rick Reider, informed that he has started trading in the domain of Bitcoin on the very day when BTC crossed the mark of $51,000 creating history. He is the biggest asset manager of BlackRock and the Chief Investment Officer at Bitcoin. He said that seeing the volatility of BTC investing in it would be the best storehouse in terms of value.
With the present rising levels of inflation, getting a place to invest is difficult. Investing in BTC makes it very much reliable with the extraordinary returns that are coming from the crypto market. As the levels of debt in the markets are increasing at a marked level, he mentioned that he has begun dabbling in BTC.
The future that crypto holds
Rieder mentions that two of his important funds seem to have a great future with the positive future of BTC. One includes BlackRock Global Allocation funds and another includes the BlackRock Strategic Income Opportunities. As per the Security and Exchange Commision, the future of BTC seems potentially fruitful. Along with BlackRock other finance giants like Mastercard and BNY Mellon have also stepped into the domain of trading and investing in cryptocurrencies. BNY Mellon happens to be one of the oldest banks in the nation. They are also planning a future launch of digital assets in this year itself. Mastercard has planned to support and promote crypto on their official network. Last week, with the announcement of Tesla entering the investment trade in BTC has hugely impacted the other giants in the tech as well as the financial markets.
The positives of investing in BTC
This year BTC has witnessed a near 70% increase in its prices. This was after a huge setback in its price early this year. Rieder added that several factors must have influenced the greater price of Bitcoin. As per him the new developments in technology and the evolving regulations have made an impact. Digital assets seem to have become an important part of a companies portfolio. Although Bitcoin stands at a great position presently, Rieder feels that a companies investment should significantly depend upon the image of its portfolio. As per Rieder, their company has earned a huge amount of cash than it had earlier and so now with no changes in the condition in other investments, investing in better assets seems to make greater sense.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
