BlackRock CEO Larry Fink said that no matter who is elected president of the United States, the pace of growth of Bitcoin as an asset class, and even the expansion of the Bitcoin market, is unstoppable.
During BlackRock’s third-quarter earnings call, an analyst asked, “What impact will it have on BlackRock if Washington implements more cryptocurrency-friendly policies?”
Larry Fink responded that the expansion of the Bitcoin market depends more on increased liquidity and investment public acceptance, rather than policy changes:
I don’t think this is a regulatory issue, but a liquidity and transparency issue.
Larry Fink added: "We believe that Bitcoin is an asset class in its own right and a substitute for other commodities such as gold."
He also pointed out that the growth trajectory of cryptocurrency is similar to that of other new financial products, such as the mortgage market and high-yield bond market. Although early development was slow, they gradually emerged as the market scale expanded.
Since its listing in January this year, BlackRock's Bitcoin spot ETF has attracted a total of US$23 billion. Larry Fink expects that the growth potential of digital assets and blockchain technology will bring major changes to the global financial system, and said that BlackRock De will continue to create new products to make investing simpler and more approachable.
Finally, Larry Fink talked about the development trend of central bank digital currency (CBDC). He pointed out:
We can see that India and Brazil have achieved great success in promoting currency digitization. These blockchain technologies will bring great benefits.
Larry Fink expects that if blockchain technology can be combined with artificial intelligence and advanced data analysis technology, it will help promote the further growth of the cryptocurrency market and broader financial applications.
In the early years, I criticized Bitcoin, but now I believe that “everyone should invest”! BlackRock CEO talks about changing attitudes
"The investment potential is comparable to gold! BlackRock CEO: Bitcoin is an asset class in itself." This article was first published on (Block Guest).
