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World’s Largest Asset Manager BlackRock’s CEO Sees Bitcoin Booming Into a Global Market

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BlackRock, world’s largest asset manager with over $7 trillion assets across equity, fixed income, cash management, alternative investment, real estate and advisory strategies seems to have taken note of Bitcoin and its growing popularity among institutional investors. Recently, the CEO of the firm Laurence D. Fink along with Central Bank governor Mark Carney at the council of Foreign relations discussed bitcoin and its impact on the global market in coming years.

Fink during the discuussion noted that Bitcoin’s current boom has got the attention of large financial players and has the potential to possibly become a global market as the adoption widens. He said,

“Bitcoin has caught the attention and the imagination of many people. Still untested, pretty small market relative to other markets. See…”
…these big giant moves every day… its a thin market. Can it evolve into a global market? Possibly.”

Fink also highlighted the possible impact of larger bitcoin adoption on the US Dollar in the international market and beleived that something like bitcoin could possibe weaken US Dollar’s position as a reserve currency in the international trade market.

Bitcoin Has Arrived As a Mainstream Asset Class

Satoshi Nakamoto, the psudoanonymous creator of bitcoin intended it to be used as a store of value in times when centralized fiat system starts collapsing and it seems 2020 is the year when bitcoin truly achieved that goal. The ongoing bull run is being carried by instituional players

which is a sign that veteran investors are looking at the top digital currency as inflation hedge. This has been confirmed by several hedge fund managers as well as asset managers who have claimed time that the demand for bitcoin from their cleients is at the peak right now.

Prior to BlackRock’s CEO openly endorsing bitcoin, the company’s CIO for Fixed Income shared similar views and even went onto claim that the top cryptocurrecy’s technology is superior to that of gold and has very good chance of replacing the traditonal inflation hedge as the true store of value asset.

The post World’s Largest Asset Manager BlackRock’s CEO Sees Bitcoin Booming Into a Global Market appeared first on Coingape.



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