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Rick Rieder, one of BlackRock's most prominent fixed-income executives, has voiced a long-term bullish outlook on Bitcoin ($BTC) while simultaneously cutting the firm's position in IBIT — BlackRock's own iShares Bitcoin Trust ETF — redirecting that capital toward technology equities, credit, and emerging-market debt.
The move separates conviction on the underlying asset from near-term portfolio positioning in a way worth unpacking. Bullish on Bitcoin, Lighter on the Wrapper The tension here is the story.
Rieder is not saying Bitcoin is done or overvalued; the long-term call remains intact.
What he is doing is reallocating at the margin, favouring other asset classes at what he apparently judges to be a more attractive relative entry.
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