BlackRock Chief Investment Officer admits the firm “dabbles” in Bitcoin

Speaking on CNBC Squawkbox, BlackRock’s chief investment officer Rick Rieder admits the firm dabbles with Bitcoin.

BlackRock is the world’s largest asset manager with approximately $8 trillion in assets under management. The firm is publically listed with a market cap of around $110 billion.

BlackRock CIO offers guarded response to Bitcoin position

Host Joe Kernen began by quizzing Rieder on his position regarding the leading cryptocurrency. Rieder’s response was cagey as he tried hard to maintain a neutral position.

“I think crypto generally has got in the imagination of a lot of people. Today, the volatility of it is extraordinary. But listen, people are looking for storehouses of value. People are looking for places that could appreciate, under the assumption that inflation moves higher and that’s your building.”

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