Bitcoin will largely take the place of GOLD 〽️

By MatthewOlko | MatsonMoney | 21 Nov 2020


CIO BlackRock says "Bitcoin will largely take the place of gold." He adds that the cryptocurrency has become a permanent fixture in the global financial system.

CIO BlackRock has a positive opinion about BTC.

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BlackRock, Rick Rieder, the world's largest asset management fund, admits that Bitcoin (BTC) has become a permanent part of the global financial system. In his opinion, this means that the narrative regarding this cryptocurrency has completely changed

On Friday on CNBC he said that "Bitcoin will stay here with us [permanently]." He admitted, however, that he was skeptical about cryptocurrencies for a long time, but today believes that BTC "will largely take the place of gold because [transferring coins within a blockchain] is more convenient than transferring gold bars to each other."

Digital gold
Bitcoin is sometimes referred to as "digital gold" because of its unique value storage trait - limited supply. The most die-hard supporters of the cryptocurrency believe it will eventually take over a significant portion of the gold's market capitalization as more investors realize its usefulness.

Today, 1 BTC is worth around 10 ounces of gold.

Until then, 2020 could go down in history as a period in which the main narrative about Bitcoin has changed, especially among institutional investors who have been skeptical about digital assets so far. Now investors such as Paul Tudor Jones and Stanley Druckenmiller have bet on Bitcoin and have invested heavily in it. In addition, large banks such as Citigroup and JPMorgan began to look at cryptocurrency more favorably.

BlackRock itself has indirect exposure to Bitcoin through its stake in MicroStrategy, the company that converted most of its cash reserves into BTC earlier this year

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MatthewOlko
MatthewOlko

I make money on cryptocurrencies 💰 I will teach you to earn a minimum of $ 1000 a month 🧑‍💻 〽️I make money on cryptocurrencies 💰 🌐I will teach you to earn a minimum of $ 1000 a month 🧑‍💻 —————- TRAVEL and ONLINE BUSINESS 🌎 CEO „MATSONMONEY”⬇️


MatsonMoney
MatsonMoney

I make money on cryptocurrencies 💰 I will teach you to earn a minimum of $ 1000 a month 🧑‍💻 〽️I make money on cryptocurrencies 💰 🌐I will teach you to earn a minimum of $ 1000 a month 🧑‍💻 —————- TRAVEL and ONLINE BUSINESS 🌎 CEO „MATSONMONEY”⬇️

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