Amid Crisis, Blackrock’s CEO Roots for Cryptos as Durable Assets

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The crypto market's June collapse has spooked even the most avid bulls. In the face of such sharp price falls, professionals who trade aren't yet thinking about digital assets' long-term extinction.

Rick Rieder, BlackRock's told Yahoo Finance Live that "You are seeing a lot of the leverage that was built up around crypto come unglued quickly,"

He also added  “Bitcoin and crypto are durable assets. It's a durable business, but there was so much excess built around it in cash."