Bitcoin and cryptocurrencies: BlackRock optimistic about these “sustainable assets”

Crypto-enthusiast for the future! – The mega-fund BlackRock takes a greater interest in – and invests in – the Bitcoin (BTC) and cryptocurrencies. Last April, this fund participated in the ffunding of $400 million from CircleIa company issuing the USDC stablecoin. It must be said that with $10 trillion assets under management, statements by BlackRock executives are listened to carefully by financial market players. The latest statements to date prove very encouraging for Bitcoin and its ilk.

For BlackRock, Bitcoin and cryptos have a future!

With courses from Bitcoin drops below $20,000 during the weekend (before going back above this symbolic bar), the crypto-asset market is not particularly happy.

However, the most important of the planet’s investment funds denotes by its serenity and its optimism for the future of cryptocurrencies. In any case, this is the tone of the remarks made by Rick Riederthe chief investment officer of BlackRock (CIO).

During a recent interview with Yahoo Finance Live, Rick Rieder did not howl heartily with the wolves announcing the death of bitcoin like Bill Gates. Quite the contrary, since the CIO of BlackRock is convinced that cryptocurrencies constitute a class ofstrong assets!

“I still think Bitcoin and cryptocurrencies are sustainable assets. It’s a sustainable business sector, but there were too many excesses built around them. (…)”

Sources: Rick Rieder, Chief Investment Officer of BlackRock

BlackRock optimistic about the future of Bitcoin and cryptocurrencies

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A purge of mindless euphoria

Rick Rieder, on the other hand, is not kind to hyper-speculation who brought the market crypto-assets to a healthy correction. Balloons are deflating at high speed in this very bearish for Bitcoin and cryptocurrencies. Only solid projects will remain with a backbone capable of withstanding the violent fall in prices.

“You see a lot of the leverage, built around cryptocurrency, unraveling quickly. (…) It’s not very different from the Internet bubble. If you go back to 99 and 2000, was the internet a bad idea? No, it wasn’t a bad idea. But you had created so much excess around him, that you just had to purge that dynamic, and I think that’s what we’re seeing today. [sur les cryptos]. »

Sources: Rick Rieder, Chief Investment Officer of BlackRock

Convinced that digital assets will therefore “keep moving forward”the leader of BlackRock explains that it is currently a “healthy recalibration” that operates in this market.

BlackRock’s Chief Investment Officer ends his intervention by mentioning that it is difficult to give anjust value » to bitcoin and cryptos. However, he feels that “in 2 or 3 years their value will be higher than today”. It must be said that with galloping inflation fiat currencies (such as the dollar or the euro), the higher quotation in these currencies will depreciate over time.

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