BlackRock, the world’s largest asset manager, sees “very small” demand for cryptocurrencies

According to CEO Larry Fink, the world’s largest asset manager with $ 9.5 billion in management, the firm sees “very low demand for cryptocurrencies, including bitcoin.”

Blackrock CEO speaks out on crypto question
Larry Fink, chief executive of BlackRock, the world’s largest asset manager, spoke about bitcoin on CNBC on Wednesday as the company announced better-than-expected quarters. BlackRock’s assets under management rose to $ 7.32 trillion in the second quarter from $ 9.49 billion a year earlier.

Echoing his previous position on the cryptocurrency, Fink said: “again, not a single question was asked about it in the last two weeks of my business trips. It’s not just the attention of retirees and long-term investors.”CEO added:

We see little in terms of investor demand for this kind of thing. But to be honest, they don’t come to BlackRock for those kind of questions.

He continued: “However, for all pension funds and insurance companies, for all the Deas that we communicate on behalf of their clients on behalf of the pension, the dialogue is how I should navigate my portfolio, how I should think about my portfolio in the long term.”

As the firm’s CEO, he has repeatedly stated that the asset management company has no demand for cryptocurrencies among its clients, but he is decidedly not optimistic about cryptocurrency prospects.

Sunday December Fink said bitcoin has made the US dollar less relevant and could “grow into a global market.””In November, BlackRock’s chief investment officer said the cryptocurrency was going nowhere and could replace bitcoin Gold. April March another BlackRock representative said gold was less effective against inflation than bitcoin, and in April Fink said the cryptocurrency could be a ” huge asset class.”

Blackrock began investing in bitcoin in February. BlackRock held $ 6.15 million worth of bitcoin futures contracts, the SEC revealed in April

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