https://dailybitcoinreport.com/wp-content/uploads/2020/11/shutterstock_753414121.jpg 592 1000 admin https://dailybitcoinreport.com/wp-content/uploads/2017/09/bitcoin-300x59.png admin2020-11-20 20:49:582020-11-20 20:49:58Bitcoin soars again after BlackRock says it could replace gold
Bitcoin is often referred to as digital gold. And now a top strategist at the world’s largest asset management firm says the cryptocurrency could one day replace the yellow metal as a go-to safe haven investment.
Bitcoin prices surged 4% Friday to above $18,700 — inching closer to the all-time high of just under $20,000 from December 2017 — after BlackRock ( )’s chief investment officer of fixed income, Rick Rieder, said in a CNBC interview that bitcoin is here to stay.
“Do I think it’s a durable mechanism that could take the place of gold to a large extent? Yeah, I do, because it’s so much more functional than passing a bar of gold around,” Rieder said.
The endorsement from BlackRock, which manages nearly $8 trillion in assets, is the latest sign of validation of bitcoin from the mainstream financial world.
Square (viable form of payment, and influential hedge fund managers…) and PayPal ( ) have endorsed it as a
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