Cryptocurrency Statement from Giant Asset Management BlackRock

BlackRock CEO Larry Fink in his annual letter to investors, in cryptocurrencies suggested it could be the next big trend.

BlackRock CEO Talks About The Next Big Thing In Cryptocurrency

According to the name of the asset management giant at the beginning of 10 trillion dollars bitcoinHe said that the media’s attitude that hides important developments in the field of crypto money is only a distraction.

Fink highlights the dramatic advances in digital payments in emerging markets such as Brazil and parts of Africa. He compares these developments to the sluggish pace of innovation in developed markets such as the US, where payment costs are high.

The BlackRock president sees an opportunity in the digital assets space where underlying technologies can improve the efficiency of capital markets, shorten value chains and increase accessibility for investors.

According to him, the division of asset categories into tokens presents a rather encouraging prospect.

Fink confirms that Blackrock is actively entering the digital assets space, with an emphasis on permissioned blockchains and the conversion of stocks and bonds into tokens. And he says this will be the next trend.

But Fink admits there is still no regulatory clarity as the industry matures. It reassures investors that they will apply the same standards and controls they apply throughout their business to crypto.

Fink recently predicted that most crypto companies would fail in his speech at a summit.

The BlackRock boss also revealed that BlackRock invested $24 million in the defunct FTX exchange, but later had to reduce that amount to zero.

*Not investment advice.