Bitcoin is often referred to as digital gold. And now a top strategist at the world's largest asset management firm says the cryptocurrency could one day replace the yellow metal as a go-to safe haven investment.

Bitcoin prices surged 4% Friday to above $18,700 — inching closer to the all-time high of just under $20,000 from December 2017 — after BlackRock's chief investment officer of fixed income, Rick Rieder, said in a CNBC interview that bitcoin is here to stay.

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