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February 22, 2021 NEW YORK (XINHUA) – The recent embracement of cryptocurrency Bitcoin by multiple enterprises and investment firms greatly inflated Bitcoin prices, with market capitalisation of Bitcoin topping USD1 trillion on Friday. However, Bitcoin is still far from becoming a mainstream investment asset, bringing risks of overvaluation and price volatility, according to multiple investment advisory firms. A number of firms’ announcements on their purchase of Bitcoin or plans to offer greater adoption of the cryptocurrency changed short-term market dynamics dramatically with Bitcoin prices surging around 90 per cent so far in 2021. International investment management giant BlackRock Inc has “started to dabble a bit” into Bitcoin, said Chief Investment Officer of Global Fixed Income and Head of the Global Allocation Team with BlackRock Rick Rieder.

United statesBlackrock rick riederStifel barry bannisterAmerica boa global researchBlackrock incUbs agMellon corpJp morganMastercard incorporatedHead of the global allocation teamChief investment officerGlobal fixed incomeGlobal allocation teamBlackrock rickFirst boulevardAfrican american