Larry Fink, CEO of the BlackRock asset manager, said that he sees little demand for cryptocurrencies among the company's clients.
Fink noted that in the past two weeks, BlackRock customers have not been at all interested in Bitcoin and other digital assets. Although previously there was demand, he added.
The head of BlackRock admitted that investors interested in cryptocurrencies and meme shares are simply not clients of the company.
“If we could raise the level of financial literacy. If we could help people focus not only on speculation, market ups and downs, but also to shift their interest towards long-term investments, ”said Fink.
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Improving financial literacy and long-term investment would make retirement less problematic for the next generation, he said.
Earlier, the head of BlackRock said that bitcoin will not replace fiat money, but may turn into a large asset class. He was skeptical about the adoption of digital gold by institutions.
Recall that in early April, BlackRock added bitcoin futures traded on the Chicago Mercantile Exchange to its portfolio.
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In May, Fink said that cryptocurrencies have long-range potential, and the company began researching them to hedge market cycles.