Copy link
Increase text size
Decrease text size
Link copied

Bitcoin (BTC) has the potential to involve into a global asset, says BlackRock CEO

The CEO of the world's largest asset manager believes Bitcoin has the potential to become a global asset.

Image by Miloslav Hamřík from Pixabay

Wed, 02 Dec 2020, 08:29 am UTC

While Bitcoin (BTC) slid back down to its current price of around $18,800 after soaring past $19,000 recently, the world’s largest cryptocurrency by market cap has already made massive gains since last month when it traded below $14,000 at the start of November. Even the CEO of the world’s largest asset manager is somewhat bullish on the potential of the crypto.

Larry Fink, CEO of BlackRock, said that the nascent cryptocurrency asset class has the potential to evolve into a global market asset, YahooFinance reported. Fink made the statement on Tuesday, December 1, 2020, while speaking to Mark Carney, former Bank of England Governor at the Council on Foreign Relations.

“Bitcoin has caught the attention and imagination of many people,” Fink commented, according to a CNBC reported. The BlackRock CEO added that the market is “still untested, pretty small market compared to other markets.”

Fink also expressed his somewhat bullish stance on the future of the crypto. “It has seen big giant moves every day but it’s a thin market,” he added. “Can it evolve into a global market? Possibly.”

The BlackRock CEO noted that cryptocurrency has a real impact on the U.S. dollar, making it less relevant on a global scale, especially for those who hold dollar-based assets. “Does it change the need for the dollar as a reserve currency?” Fink asked the same question that has been posed by high profile personalities in the financial world who are closely watching the development of Bitcoin and cryptocurrencies in general.

A number of companies have already started including cryptocurrencies such as Bitcoin in their treasury assets. For instance, MicroStrategy Inc. announced back in August its acquisition of 24,454 BTC, valued at around $250 million at that time, viewing the crypto as a “dependable store of value that is superior to cash in terms of appreciation potential.”

“Our investment in Bitcoin is part of our new capital allocation strategy, which seeks to maximize long-term value for our shareholders,” MicroStrategy CEO Michael J. Saylor explained. Other firms have made similar moves as many are concerned about the expected devaluation of fiat currencies due to the money printing activities by governments across the globe in response to the coronavirus pandemic.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2020.12.12 07:24:14
I am a crypto currency trader and i make over 200% daily trading all day and night and also by passing even when market is down and others are resting , If you are interested, I can teach you how to trade and also help you achieve your goal in life with crypto i can turn 4 btc into $340,000.00 in less than four weeks, now that bitcoin has high prices...please note that crypto currency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins , bitcoin can also be traded for Ethereum, Litecoin, United States Dollar, Ripple, Euro, IOTA, and other stocks you need to put to trading on a daily basis with a very correct strategy and a target of profit as you get into the trading market with your capital. Also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door ???? inbox me for more me on WhatsApp +1(206)-742-5358 we bless the lord for a year well spent .
  • 0
  • ·
  • 0
  • Bitcoin (BTC) $36,642.50 (+1.08%)
  • Ethereum (ETH) $1,257.41 (+0.94%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Cardano (ADA) $0.371500 (-3.70%)
  • Litecoin (LTC) $152.14 (+5.75%)
  • Bitcoin (BTC) $36,642.50 (+1.08%)
Jan 27, 2021 (Wednesday)
BTC Surges by 1.02% Within 5 Mins, Marking 30,954 USDT
BTC Drops by 1.01% Within 5 Mins, Marking 31,271.8 USDT
F2Pool To Suspend Payment Of CKB Mining Earnings On Jan 28
Whitepaper Of MOV Lending Protocol Released
BTC Tops List Of Crypto Net Outflows With $102.40 Mln In Past 18 Hours
UN Stamps Launches Ethereum-Powered UN Crypto Stamp
Huobi Global To Suspend ADA Deposits And Withdrawals
SushiSwap Falls Victim To Attack Again, And Hacker Make A Big Fat Profit
Ripple Client ACI Chosen For Fed’s Pilot Program, While One More Exchange Joins RippleNet
BTC Drops Below 31000 USDT
CoinNess DeFi Report: Assets Locked In DeFi Mark $35.74 Billion
Furucombo Partners With Synthetix
EY’s Paul Brody Expects Consumer DeFi Ignition In 2021
F2Pool: VTC Is Expected To Conduct Hard Fork On Jan 30
Independent Reserve Announces To Delist BSV
OKEx: Props Token (PROPS) Now Available
Ripple Hit With Yet Another Lawsuit Over Securities Law Violations
Effective Hashrate Of Filecoin's Entire Network Marks 2.116 EiB
24H Trading Volume Of Uniswap Tokens Marks $710 Mln
Plasm Network announced that ZK Rollups integration test has been successfully completed.
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.