With the rising price of bitcoin, more and more major investment banks on Wall Street seem to be interested in bitcoin. JPMorgan recently said it was seriously considering this asset class, and Goldman Sachs also showed interest in cryptocurrencies. A division of Morgan Stanley is also understood to be considering adding bitcoin to its list of possible bets. BlackRock, the world’s largest asset manager, is likely to be a major investment bank moving faster. On Wednesday, Rick Rieder, chief investment officer of the bank’s global fixed income business, said BlackRock had begun to enter bitcoin. Bitcoin prices have risen more than 70% this year. In 2020, bitcoin prices have more than quadrupled. As of press release, bitcoin has risen above $52000, a record high. BlackRock took the lead in bitcoin, and in January BlackRock saw bitcoin futures as a potential investment in its two funds, according to BlackRock’s filing with the U.S. Securities and Exchange Commission. The two funds are BlackRock strategic income opportunities and BlackRock Global Allocation Fund. By the end of the fourth quarter, BlackRock had $8.86 trillion in assets under management. ‘despite the extraordinary volatility of bitcoin today, people are looking for valuable assets, and under the assumption that inflation is high and debt is accumulating, people are looking for assets that could appreciate, so we have begun to try to get into this area, ‘Mr. Reid said. “We believe that the story and theme here is far more than just investing in bitcoin and predicting its future price, but around the potential consequences that cryptocurrency, blockchain and bitcoin may have in the entire technology and business community over the next decade.” He said. He added: “my feeling is that as technology and regulations develop to a certain extent, many people think it should be part of the portfolio, and that’s what drives prices up.” “We believe that the story and theme here is not just about investing in bitcoin and predicting its future price, but about the potential consequences that cryptocurrency, blockchain and bitcoin may have in the technology and business community as a whole over the next decade,” says Dan ives, chairman of investment bank wedbush. “PayPal, NVIDIA, Tesla, IBM, visa, MasterCard and many other companies, we believe in this trend,” he said. Bitcoin investment and blockchain driven projects are likely to soar in the next few years. Bitcoin fever is not a trend. In our view, it is the beginning of a new era in digital currency. ” In recent days, some other financial institutions, such as bny Mellon and MasterCard, which are the oldest banks in the US, have also entered the field of cryptocurrency. Bank of New York Mellon will launch its digital asset division later this year, and MasterCard plans to support some cryptocurrencies on its official network. Tesla said last week it had invested $1.5 billion in bitcoin and plans to accept the digital currency as a payment method for its products. Cryptocurrency will be a way to diversify investment. Although bitcoin is increasingly accepted as an asset class, Reid believes that the exposure investors should take “depends on the rest of the portfolio.”. “We have a lot more cash than in history,” he said. “This is because duration doesn’t work, interest rates don’t hedge, so it makes sense to diversify into other assets In my opinion, it makes sense to hold some cash, such as cryptocurrency, but I don’t recommend that investors have to allocate cryptocurrency or give target holdings. ” Rieder, who has previously commented positively on the potential of bitcoin, said in November that he believed bitcoin “could replace gold to a large extent”. “I think the acceptance of digital currencies and technologies and cryptocurrencies, especially millennials, is real,” he said.