The emerging class of cryptocurrency assets could eventually become a global market, BlackRock CEO Larry Fink acknowledged.
He touched on the topic of cryptocurrencies in a conversation with former Bank of England governor Mark Carney, CNBC reports.
Fink acknowledged that Bitcoin has “attracted attention” from many people. In his view, the existence of cryptocurrencies affects the U.S. dollar as a global reserve currency, making it less suitable for international holders.
In 2018, the head of the leading investment company said that BlackRock clients were not interested in investing in cryptocurrencies.
BlackRock is the largest investment firm in the world. By 2019, the value of assets under its management amounted to $7.4 trillion.
The BlackRock Fund Advisors division owns 14.79% of the shares of analytics software provider MicroStrategy. The latter invested in Bitcoin $250 million in August and $175 million in September.
In November 2020, BlackRock’s chief investment officer Rick Rieder named Bitcoin a reliable mechanism that is far more functional than a gold bar.
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