BlackRock CEO Says: Bitcoin Is Expected to Become a "Global Asset"

[Cordillerabit]

When Larry Fink, the CEO of BlackRock, the world's largest asset management company, was interviewed by CNBC , he rarely gave positive comments on Bitcoin, believing that Bitcoin is expected to evolve into a global market asset.

The report pointed out that in a conversation with former Bank of England President Mark Carney on Tuesday, Larry Fink said that the rise of Bitcoin has attracted the attention of Wall Street and everyone's imagination, but compared with other mainstream assets, the cryptocurrency market is still slightly immature. He said,

These huge amounts (funds) are moving every day... This is a weak market. Can it evolve into a global market asset? maybe.

He believes that if people are used to using digital currencies, it will inevitably have an impact on the U.S. dollar and weaken the hegemony of the U.S. dollar in the existing financial system. He then asked: "Will this change the demand for the U.S. dollar as a reserve currency?"

Earlier, BlackRock’s chief investment officer Rick Rieder speculated last month that Bitcoin might obscure the light of gold and replace it to a large extent.

Since its inception, although Bitcoin has successfully attracted many retail investors to rush in, but due to its special nature, large mainstream institutions have always rarely spoken positively about Bitcoin. However, this year the world is shrouded in the epidemic and the financial situation is changing. However, Bitcoin still bucked the trend and rose by nearly 170%, playing a very good hedging role, and thus won the recognition of traditional financial institutions.

Source: Bityard