[ad_1]
Bitcoin prices rose 4% on Friday to over $ 18,700 – slowly approaching the all-time high of just under $ 20,000 since December 2017 – after that Black rock (BLK)Fixed income chief investment officer Rick Rieder said in an interview with CNBC 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? Yes, I do, because it’s much more functional than just passing a gold bar around,” Rieder said.
The approval of BlackRock, which manages nearly $ 8 trillion in assets, is the latest sign of bitcoin validation from the traditional financial world.
Square (SQ) is PayPal (PYPL) they approved it as a viable form of payment, and influential hedge fund managers Stanley Druckenmiller and Paul Tudor Jones advertised it as an investment.
However, gold also rose on Friday. Gold and bitcoin benefited from a weaker dollar. Investors increasingly see bitcoin as a viable alternative to government-backed paper currencies.
.[ad_2]Source link
