Speaking of Bitcoin in an interview Feb. 17, he said that "the volatility of it is extraordinary, but listen, people are looking for storehouses of value... My sense is the technology has evolved and the regulation has evolved to the point where a number of people find it should be part of the portfolio, so that’s what’s driving the price up.”
BlackRock revealed in Jan. 20 filings with the U.S. Securities and Exchange Commission (SEC) that its BlackRock Funds V and BlackRock Global Allocation Fund have added bitcoin futures to their eligible investments, both for speculation and hedging.
Bitcoin briefly cracked $40,000 on Jan. 7, reaching a new all-time-high of $40,180.15 at 1:21 p.m. EST according to CoinGecko. It then plummeted nearly $3,000 before jumping back to its current $39,200.
The chief investment officer at the world’s top asset manager, BlackRock, argued that Bitcoin may be a better store of value than gold. “It's hard to say whether it's 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 than passing a bar of gold around.”
