Bitcoin will not be a substitute for fiat money, but it could become a major asset class. This is the opinion of the CEO of BlackRock, which manages $ 8.7 trillion in assets, Larry Fink expressed in an interview with CNBC.
Despite the successful listing on the Nasdaq of the cryptocurrency company Coinbase, which was estimated at $ 85.7 billion, Fink was skeptical about the adoption of cryptocurrency by institutions.
According to him, he has not noticed an increase in interest in bitcoin from institutions. In their circles, more attention is paid to the risks of climate change, national budget deficits, and inflation.
“We are studying cryptocurrency, we made money on it, but I will not say that we see a wide interest of institutions around the world,” said Fink.
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Earlier, BlackRock allowed entry to the bitcoin futures market.Larry Fink has already announced the possibility of turning the leading cryptocurrency into a global asset in a conversation with the ex-Governor of the Bank of England Mark Carney.
In November 2020, BlackRock investment director Rick Reeder announced that Bitcoin could replace gold. In February, he confirmed the company's interest in the first cryptocurrency.