BlackRock CIO Rick Rieder Says Bitcoin Will Rise Long Term Despite Volatility

Rick Rieder, BlackRock’s chief investment officer, said he remains positive on Bitcoin’s long-term outlook despite the recent correction.

In an interview with Bloomberg on June 16, Rieder said market volatility is clearly elevated, but BlackRock is maintaining its Bitcoin allocation at an appropriate level.

He added that he ultimately expects Bitcoin to move higher.

Bitcoin has recently undergone a correction as investor sentiment weakened and spot ETF outflows weighed on prices. Even so, Rieder made clear that his long-term bullish view remains unchanged.

BlackRock manages the iShares Bitcoin Trust, or IBIT, the largest spot Bitcoin ETF in the US, which serves as a gateway for institutional investors seeking Bitcoin exposure.

Market participants have interpreted Rieder’s remarks as a sign of confidence in long-term institutional demand for Bitcoin.