BlackRock CEO allowed bitcoin to become a world asset class
The head of the world’s largest financial asset management company announced a change in his attitude towards Bitcoin for the better, CNBC reports.
BlackRock CEO Larry Fink said bitcoin has “captured the attention and imagination” of many, but the cryptocurrency market is small compared to other markets. Speaking to former Bank of England Governor Mark Carney at the Council on Foreign Relations on Tuesday, Fink said cryptocurrencies have the potential to evolve into a global market asset..
“These are huge movements every day. This is a thin, still untested market. Can they develop into a global market? Perhaps, “said Fink.
He also noted that the emergence of digital currencies has a direct impact on the dollar and leads to the loss of its relevance on a global scale for international holders of dollar assets. “Does this change the need for the dollar as a reserve currency?” – he asked a question.
BlackRock is the world’s largest investment company by assets under management. The cost of its capital at the end of 2019 was estimated at $ 7.4 trillion.
Shortly before this, BlackRock investment director Rick Reeder said that cryptocurrencies “stay for a long time”, and Bitcoin could take the place of gold.
Fink himself has been skeptical about cryptocurrency in the past. So, he said that bitcoin is an exclusively speculative instrument, and the only reason for its popularity lies in anonymity, which is actively used for money laundering..
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