On CNBC this morning Rick Rieder, CIO of Fixed Income and Head of Allocation at BlackRock, the world’s largest asset manager, said Bitcoin could take the place of gold to a large extent because crypto is “so much more functional than passing a bar of gold around.”
“I think Bitcoin is here to stay, I think it is durable…Millennials’ receptivity to technology and cryptocurrency is real, the digital payments systems is real,” Rieder continued.
The wave of institutions is arriving at a very quick pace.
Click here to see the video clip from CNBC.
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