Bitcoin prices 'bubble-like' after record rally: BlackRock

With bitcoin prices up 17-fold this year and sitting above the $16,000 mark, valuations for the cryptocurrency are in “extreme” territory, according to BlackRock Inc.
 
“We are seeing sort of bubble-like valuations,” Belinda Boa, the money manager's head of active investments for Asia-Pacific, told reporters in Hong Kong. “BlackRock’s view is that this isn't a financial asset like we would trade in terms of equities and fixed-income instruments.”
 
BlackRock joins other major financial services firms which have weighed in on bitcoin's meteoric rise this year amid increasing mainstream acceptance. Bitcoin futures contracts made their debut on Cboe Global