BlackRock’s chief investment officer of global fixed income, Rick Rieder, told Bloomberg on June 15 that Bitcoin (BTC) is expected to rise substantially over the long term.
Rieder’s Projection for Bitcoin
Rieder emphasized that his bullish outlook applies to a multi‑year horizon, not to the near‑term price swings that have dominated recent headlines. He cited several technical indicators that temper BlackRock’s confidence in a rapid rally, suggesting that the firm will hold its current exposure until clearer signals emerge. Investors should therefore interpret the comment as a strategic, rather than tactical, endorsement of the cryptocurrency.
BlackRock’s Recent Crypto Transactions
On June 11, BlackRock allocated more than $38 million to acquire Bitcoin and Ethereum (ETH), reinforcing its position as a major institutional player in the crypto market. The following week, the firm introduced