„Bitcoin can replace gold“ – CIO of the world’s largest asset manager BlackRock via BTC

Bitcoin and gold bars are more similar than expected. You can use them to protect your savings from inflation.

BlackRock is the largest asset manager worldwide. All those who also invest in ETFs are probably familiar with the well-known BlackRock products, which run under the name iShares. In a recent interview with CNBC, BlackRock CIO Rick Rieder spoke about Bitcoin Legacy and Gold. In this article we will look at his bullish statements together.

According to BlackRock CIO Rieder, Bitcoin can replace Gold

Our article is based on an interview with BlackRock CIO Rick Rieder on CNBC Squawk Box.

Squawk Box published parts of the interview via Twitter, which clearly shows how the BlackRock CIO thinks about Bitcoin. Rieder strikes enormously bullish tones and confirms beyond doubt that he sees Bitcoin as the winner in the duel Bitcoin vs.

„It’s hard to say whether it’s [#btc] worth the price it is trading at today. But do I think it is a durable mechanism that-do I think could replace gold to a large extent? Yeah I do, because it’s so much more functional,“ says BlackRock’s Rick Rieder.

Peter Schiff will certainly not like this statement. For Rieder said literally:

Do I think Bitcoin can replace gold to a certain extent? – Yes, I think so, because so much is more functional.

Crypto currencies and BTC have come to stay

Anyone who has read the above passage will also find that Rieder makes no concrete statement about a fair valuation or a fair Bitcoin price.

For example, the Black Rock CIO said that he did not know whether the current Bitcoin price was fair. However, he knows that your durable mechanism is behind Bitcoin and that BTC is more functional than gold.

During the interview, Rieder supports his opinion with the technology affinity of the younger generation. He points out that digital payment systems are „real“ and that Millenials in particular perceive crypto-currencies differently than older generations.

I think that crypto currencies are here to stay. Digital currencies and Millenials‘ perception of them is real.

So let’s keep in mind that the Chief Investment Officer in the Global Fixed Income division of the world’s largest asset manager BlackRock has been positive about Bitcoin. With this, Rieder is obviously signaling to many market participants that BTC can be a serious substitute for gold, thus also underlining the narrative of Bitcoin as a store of value.
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