Bitcoin’s latest rise was featured in a CNN Business article titled, “Bitcoin soars again after BlackRock says it could replace gold.” Often referred to as digital gold, the cryptocurrency could one day replace the yellow metal as a go-to safe haven investment according to a top strategist. Today, bitcoin prices surged to over $18,700 — nearing closer to the all-time high of just under $20,000 — after BlackRock (“BLK”)’s chief investment officer of fixed income, Rick Rieder, endorsed the cryptocurrency as here to stay. “Do I think it’s a durable mechanism that could take the place of gold to a large extent? Yeah, I do, because it’s so much more functional than passing a bar of gold around,” Rieder said in a CNBC interview, providing the latest sign of bitcoin’s validation from the mainstream financial world.
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Cable News Network is an American news-based pay television channel owned by CNN Worldwide, a unit of the WarnerMedia News & Sports division of AT&T’s WarnerMedia. It was founded in 1980 by American media proprietor Ted Turner and Reese Schonfeld as a 24-hour cable news channel. Upon its launch in 1980, CNN was the first television channel to provide 24-hour news coverage, and was the first all-news television channel in the United States. For more information, visit www.Edition.CNN.com.
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