In his annual letter to investors, Larry Fink, CEO of BlackRock, returned to the opportunities offered by technologies derived from cryptocurrencies. He also believes that the United States and other developed countries are lagging behind on this subject.
https://cryptoast.fr/feed/
https://cryptoast.fr/cryptomoines-etats-unis-a-la-traine-matiere-innovation-selon-pdg-blackrock/
BlackRock’s vision on cryptocurrencies
In his annual letter to investors published this weekend, Larry Fink, CEO of BlackRock, returned to many topics, including cryptocurrencies. Interestingly, however, the person concerned talks about blockchain, tokenization or even digital assets, but never use the word “cryptocurrency”.
In this letter, he notes a contrast at the global levelin the way digital assets are considered:
“In many emerging markets […], we are seeing dramatic progress in digital payments, reducing costs and advancing financial inclusion. In contrast, many developed markets, including the United States, lag behind in innovation, leaving the cost of payments much higher. »
Like many giants in traditional finance, Larry Fink believes BlackRock has opportunities in areas such as tokenization of stocks and bonds, as well as in permissioned blockchains. Unlike public blockchains, the latter are used by very specific actors within a defined framework, generally between different institutions as JP Morgan does with Onyx for example.
👉 To go further — Find our guide to buying Bitcoin (BTC)
Buy crypto on eToro in minutes
🎧 Listen to this article and all other crypto news on Spotify
A company already familiar with cryptocurrencies
BlackRock has already become involved in the cryptocurrency ecosystem in various ways. Last year, the company notably participated in a $400 million funding round from Circle. Moreover, the asset manager is precisely one of the partners of Circles in USDC stablecoin reserve management.
On the other hand, BlackRock launched a private Bitcoin (BTC) fund last summer, shortly after building relationships with Coinbase to expand the opportunities for exposure to cryptocurrencies within its Aladdin investment solution.
As for less successful partnerships, the company had participated in investments in FTX to the tune of $24 million.
More generally, BlackRock remains to this day the largest asset manager in the world. In 2022 alone, the company recorded more than $400 billion in new deposits from its customers, despite a difficult market environment. In addition, the group’s stock has been the best performer in the S&P 500 since its IPO, with a return of 7,700% since 1999.
👉 Also in the news — 186 banks present a model similar to Silicon Valley Bank — Banking collapse soon?
🎁 Cryptoast Research Launch Offer
1st Newsletter Free with the code TOASTNL
Source: BlackRock
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
540 items
