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On Thursday, Rick Reeder, Chief Information Officer, BlackRock, She said On CNBC’s Squawk Box, he said he owns bitcoin and that he believes its price could go up “significantly” in the future.

An executive at the world’s largest asset manager, with $9.49 trillion in assets under management, has expanded his thoughts on Bitcoin, describing it as an alternative currency that is likely to dictate its future price movement through increased adoption.

“Part of the reason I own a little bit of bitcoin is because I think there are more people who will enter this fight over time,” he said. “I like volatile assets with a bullish bulge. I could have seen Bitcoin, as it happened, go up exponentially.”

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