Black Rock also invests in Bitcoin… “It can be a safe asset like gold and silver”

Input 2021.02.18 09:15

Blackrock, the world’s largest asset management company, jumps into bitcoin investment.

Rick Ryder Black Rock Chief Investment Officer (CIO) appeared on the US economic media CNBC on the 17th (local time) and said, “Investors are looking for a place to store value under the assumption that inflation is rising and debt is building up. I started waiting.” It suggested that Bitcoin could soon act as a safe asset like gold and silver.

According to data submitted by Blackrock to the Securities and Exchange Commission (SEC), Blackrock added bitcoin futures to two funds it manages last month. The target is the Black Rock strategy profit opportunity and the Black Rock Global Asset Allocation Fund.

“I think the technology and regulations have evolved to the point that many investors have to include bitcoin in their portfolio,” said Ryder CIO. “That’s why the price is rising.” On this day, the price of Bitcoin surpassed 52,000 dollars for the first time ever.

He also emphasized, “Historically, we currently have a lot of cash,” he said. “It seems reasonable to hold some of the cash we have as virtual assets.” However, he added, “I think it’s right to put some of the cash you have in the same place as virtual currency, but I’m not going to support a specific weighting or holding goal.” As of the end of the fourth quarter of last year, Black Rock is managing assets of 8.6 trillion dollars (about 9594 trillion 872 billion won).

Ryder CIO also positively evaluated Bitcoin’s potential in November of last year. At the time, he said, “it could replace gold,” he said. “In particular, the degree of acceptance of technology and cryptocurrency by millennials is real.”