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Rick Rieder: I love volatile assets and Bitcoin

Rick-Rieder-I-love-Bitcoin Rick Rieder | Top manager at Blackrock

Rick Rieder, a top manager at the large investment company Blackrock, has suggested that Bitcoin will grow strongly in the near future, despite the recent drop in the cryptocurrency market. Rick Rieder was featured on CNBC's Squawk Box this week. 

In an interview, he named the reason why he owns a certain amount of Bitcoin - it lies in its volatility. Rieder is convinced that volatile assets have a "positive bulge." This property is typical for non-option bonds when the growth of their price in the event of a strong increase in interest rates will be greater compared to the fall in price with a decrease in interest rates. Despite the recent collapse of the cryptocurrency market, Rick Rieder is optimistic. He believes that Bitcoin will not stay at the current level for long, and in the foreseeable future its rate will rise significantly.

"I own a small amount of Bitcoin and I really think that over time, more people will get into the fray. I love volatile assets and have seen Bitcoin take off before," 

Rick Rieder said.

At the same time, he noted that Bitcoin is not yet able to compete on equal terms with traditional assets such as stocks and bonds. However, Bitcoin can be considered a speculative instrument for diversifying the investment portfolio, which gives it a certain value.

Rick Rieder previously stated that there are still many regulatory, volatility and environmental issues to overcome before Bitcoin becomes a "mature" asset. 

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