BlackRock’s chief investment officer, Rick Rieder, appeared on CNBC’s Squawk Box and said how the company has started to invest in cryptocurrencies.
Founded in 1988., BlackRock is the world’s largest asset manager, with $8.67 trillion in assets under management as of January 2021. CNBC’s anchor Joe Kernen was teasing Reider, trying to figure out how impactful would be if only 1% of assets under management were invested into crypto.
CIO mentioned the volatility of crypto markets, describing it as “extraordinary”, but also acknowledged how people want to invest in stores of value and are looking for places that could appreciate.
Very importantly Rieder also said how he thinks the technology and regulation have evolved to the point where people want it in their portfolio.
For more detailed information you can take a look at the short talk here: