BlackRock: Bitcoin can replace gold

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„I think the crypt currency is not going anywhere,“ Reeder said during a conversation with CNBC.

He noted that Bitcoin is a reliable mechanism that is ‚much more functional‘ than a gold bar.

Reader added that Bitcoin is ‚little involved‘ in cryptographic issues and is not widely represented in its business and corporate portfolios.

BlackRock, Inc. – one of the largest investment companies in the world. The amount of assets under its management exceeds $7 trillion.

At the end of 2018, BlackRock CEO Larry Fink said his company would refrain from launching cryptographic ETFs due to the lack of industry maturity.

Recently, Tom Fitzpatrick, Managing Director of Citibank, called bitcoin digital gold of the 21st century and predicted that it would reach a price of $318,315 by the end of 2021.