2021-4-15 18:51 |
Bitcoin can become a “great asset class,” says BlackRock CEO Larry Fink.
This isn’t anything new coming from Fink or the world’s largest asset manager with a record $9 trillion in assets under management (AUM), as since late last year, much like the rest of the world, BlackRock has also been exploring the cryptocurrency sector.
“It may become a great asset class, and I do believe this can become a great asset class,” said Fink in an interview with CNBC on Thursday.
“I don't believe we should think about crypto as a substitute of currency.”
While Fink said the asset manager has had “very little interconnectivity” in the conversation on crypto other than a “fascination” with their clients, they are definitely involved in the trillion-dollar asset. “We’re studying it,” Fink said.
“We make money on it, but I’m not here to tell you that we’re seeing broad-based interest by institutions worldwide.”
“Maybe they’re talking to somebody else, so I don’t want to suggest that we have perfect information.”
These latest comments came from BlackRock after the company reported better-than-expected earnings.
Just a day before, after beating expectations with Q1 2021 results, Goldman Sachs CEO David Solomon also shared his bullish views on cryptos saying they are “important to the future of global financial systems” and that they “continue to look for ways to expand” their capabilities to support clients’ needs.
Fink meanwhile said for their institutional clients, climate risk, budget deficits, and inflation are far more dominant topics of conversation than crypto.
As we reported earlier this month, BlackRock disclosed in its filing with the SEC that they already had exposure to Bitcoin through CME futures. Earlier this year, Fink had said that the crypto could be another store of value but that it hasn't proven it yet.
BlackRock CIO of Fixed Income Rick Rieder, meanwhile, has been very bullish on the digital asset, seeing it replacing gold and that there’s clearly more bitcoin than supply.
Bitcoin/USD BTCUSD 62,810.4210 -$596.70 -0.95% Volume 64.35 b Change -$596.70 Open$62,810.4210 Circulating 18.68 m Market Cap 1.17 t baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=BTC&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~BTC~USD"); The post BlackRock CEO Larry Fink says He believes Bitcoin ‘Can Become A Great Asset Class’ first appeared on BitcoinExchangeGuide.Similar to Notcoin - Blum - Airdrops In 2024
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