Cryptocurrency news

Larry Fink: "Bitcoin can really grow into a global asset»

Larry Fink: “Bitcoin can really grow into a global asset»

The CEO of the investment company BlackRock, Larry Fink, expressed the opinion that in the future, the first cryptocurrency can really become a global asset.

During a conversation with the former governor of the Bank of England, Mark Carney, at a meeting on international relations, Fink noted that although the cryptocurrency market is still quite small in volume, bitcoin has attracted the attention of many people. Due to the small volume of the cryptocurrency market, it has increased volatility.

According to Fink, bitcoin puts real pressure on the US dollar, as it makes it less important in the international market for long-term investors. The CEO of BlackRock, the largest company in terms of managed assets, stressed that the growth of bitcoin calls into question the status of the US dollar as a reserve currency.

In July last year, Fink expressed the opinion that the world needs to democratize the exchange of foreign currencies in international transactions and reduce fees for such transactions. For these purposes, stablecoins, including the Libra project, are well suited, although the best solution would be to improve existing technologies.