BlackRock recommends adding 2 'hard assets' in your portfolio today

Rick Rieder, Chief Investment Officer of Global Fixed Income at BlackRock, said on CNBC Tuesday that Bitcoin should have a place in portfolios alongside gold — though allocations depend on each investor's risk profile.

Rieder, who manages BlackRock’s Global Allocation Fund, explained that his team is currently more exposed to equities and income products, with only 3–5% allocated to gold. While he described gold as “a better currency hedge today,” he emphasized Bitcoin’s significance as a long-term investment vehicle.

“Gold strikes me today as a better currency hedge. Bitcoin tends to trade with volatility and tends to trade with the Nasdaq. So we’re running considerably lower than that in crypto,” Rieder said.Rick Rieder, chief investment officer for fundamental fixed income at BlackRock Advisors LLC, speaks during a Bloomberg Television interview in New York, U.S.Getty Images

Gold at record high, Bitcoin sees strong ETF flows

Rieder’s comments came as gold reached an all-time high of $3,646.13 per ounce on Sept. 8. On the same day, Bitcoin was trading at $112,071.43, with U.S. spot Bitcoin ETFs recording $364.3 million in net inflows — underscoring growing institutional demand for the asset.

Related: What is Crypto? Cryptocurrency explained

Speaking on Bitcoin’s trajectory, Rieder added:

“I just think it’s going to go up, and I think it’s a good expression … but five [percent allocation] seems high to me. It depends on where you are in your life and how much risk you want to take.”

“Best environment” for investors

Beyond crypto, Rieder described the current market backdrop as unusually favorable for investors.

“There’s so much to do — publics, privates, gold, Bitcoin — that it’s the best I’ve ever seen in terms of being an investor,” he said, pointing to robust earnings growth in technology and attractive yields in fixed income.

Fed policy

Rieder also weighed in on monetary policy, saying the Federal Reserve should cut interest rates by 50 basis points, though he expects policymakers will more likely move by 25 basis points, depending on inflation data due later this week.

“We are now talking about a fed that can move 25 basis points, and maybe they do it three times till the end of the year. Moving 25 basis points of the overnight funding rate is not that exciting”

“Even if they cut 25, you can still build a portfolio to get this sort of yield … real rates are actually okay out the curve if inflation runs near 3%,” he noted.

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BlackRock has taken an active role in the digital asset space. The iShares Bitcoin Trust (IBIT) went live on Nasdaq on January 11, 2024, followed by the iShares Ethereum Trust ETF (ETHA), a spot ether fund that began trading on July 23, 2024, after SEC approval.

Story Continues

FAQs

Q: What is BlackRock’s role in crypto?

A: BlackRock has become a leading player in digital assets through its iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust ETF (ETHA), both of which trade on Nasdaq. CEO Larry Fink has called tokenization “the next generation for markets,” signaling the firm’s long-term strategy to integrate blockchain into traditional finance.

Q: When did Rick Rieder join BlackRock and what is his role?

A: Rick Rieder joined BlackRock in 2009 after Barclays Global Investors was acquired. He leads the Global Allocation Investment Team and is Global Fixed Income Chief Investment Officer. Managing over $2 trillion in assets, including multi-asset strategies and fixed-income portfolios, he is one of the most influential voices in global markets.

This story was originally reported by TheStreet on Sep 10, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.

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