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, Larry Fink: “Cryptocurrencies could become a great asset class», Forex-News, Forex-News
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Larry Fink: “Cryptocurrencies could become a great asset class»

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, Larry Fink: “Cryptocurrencies could become a great asset class», Forex-News, Forex-News


, Larry Fink: “Cryptocurrencies could become a great asset class», Forex-News, Forex-News

BlackRock CEO Larry Fink, fascinated by Bitcoin, indicated in an interview on CNBC’s “Squawk Box” that cryptocurrencies are not a substitute for Fiat money. But, they could become a great asset class.

Larry Fink is optimistic but cautious

During the interview, with CNBC on April 15, the CEO seemed significantly more optimistic regarding the crypto space. Especially after Coinbase’s direct listing.

«I am still fascinated by it. Ultimately, I am encouraged by the number of people who are focusing on it. The narrative encourages me. It can become a great asset class».

, Larry Fink: “Cryptocurrencies could become a great asset class», Forex-News, Forex-News

In fact, this was reported by Squawk Box on Twitter:

«And I do think it can become a great asset class, says Larry Fink. I don’t think we should think of crypto as a substitute for currency».

Cryptocurrencies will not replace fiat currencies

In particular, while the head of BlackRock may be fascinated by Bitcoin, he is skeptical that cryptocurrencies can replace fiat currencies.

, Larry Fink: “Cryptocurrencies could become a great asset class», Forex-News, Forex-News

In this way, Fink wanted to make the difference between cryptocurrencies and fiat currencies very clear. And he pointed out that cryptocurrencies would not replace the latter.

He believes that governments and central banks will eventually develop and launch their CBDCs. But he said that, as such, investors should not think of cryptocurrencies as a “substitute for currency.”

Likewise, Fink explained that he and his organization are “still watching” developments in the cryptocurrency space. But, he highlighted the lack of substantial institutional demand from BlackRock’s clients for them.

«I will tell you about our investors around the world, we do not have many inquiries about it. We are investing in that. We are studying it. But I am not here to tell you that we are seeing widespread interest from institutions around the world.».

Opinion on Bitcoin has evolved

Certainly, Fink, whose net worth includes more than $ 1.1 billion, according to Forbes, was previously not interested in cryptocurrencies. In 2017, he even called Bitcoin a “money laundering index.”

Bitcoin simply shows how much demand for money laundering there is in the world.

Over time, his views on Bitcoin have evolved. In fact, in December Larry Fink spoke positively about the leading cryptocurrency and said that he could see Bitcoin growing as an asset class.

Also, in January, his firm said in a filing with the SEC, that it could add Bitcoin futures to its funds. By the way, in March, BlackRock revealed that it already had 37 Chicago Mercantile Exchange futures contracts.

Finally, despite the seemingly mixed messages about cryptocurrencies, BlackRock could be exploring the possibility of getting more directly involved in the sector. What do you think about it? Let me know in the comment box.

I say goodbye with this phrase by Konrad Adenauer: «It is not necessary to always defend the same opinion because no one can prevent you from becoming wiser».





, Larry Fink: “Cryptocurrencies could become a great asset class», Forex-News, Forex-News

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, Larry Fink: “Cryptocurrencies could become a great asset class», Forex-News, Forex-News

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