Blackrock CIO: Cryptocurrency Is Here to Stay, Bitcoin Could Replace Gold

Blackrock’s Chief Investment Officer, Rick Rieder, said cryptocurrency, including bitcoin, “is here to stay.” In addition, he said bitcoin is a durable mechanism that could replace gold. Blackrock on Bitcoin and Gold Rick Rieder, Blackrock’s Chief Investment Officer (CIO) of Global Fixed Income, talked about bitcoin replacing gold in an interview with CNBC’s Squawk Box on Friday. Blackrock is the world’s largest asset manager, with more than $7.4 trillion in assets under management as of September. Rieder is also Blackrock’s Head of the Global Allocation Investment Team in the Multi-Asset…

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Bitcoin is Enough, Satoshi Should Stay Out

In a Cointelegraph interview, Adam Back provided additional clarity on his perceived Bitcoin (BTC) maximalism. Blockstream’s CEO believes that Bitcoin is enough and there is no need for a multitude of derivative projects. Back said, “I think it’s like TCP/IP the internet exists. We don’t need 5800 TCP/IP copies trying to monetize and profiteer off pumpanomics or such. It detracts from value (I gather there are about 5,800 altcoins as of today)”. He noted that innovators should focus on Bitcoin instead: “It’s modular, you can build anything you want using…

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Investigators Stay Silent as Inside Job Rumors Emerge

On July 11, fraudsters hacked into digital payment platform Cashaa’s over-the-counter desk, which serves Indian customers, and stole 336 Bitcoin (BTC), worth approximately $3.1million. Although Cashaa stated that there have been no users affected by this hack, they did put a hard stop on all crypto-related transactions for 24 hours to understand the incident better. Cashaa is a United Kingdom-based crypto-friendly bank that deals with Bitcoin OTC operations and works with major traditional and crypto exchanges in India. According to an official statement, the incident took place with an OTC…

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