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


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."