Larry Fink, CEO of BlackRock, the multinational largest asset manager with over $7.4 trillion dollars in assets, has disclosed an optimistic view on the future of Bitcoin, saying that the world’s first cryptocurrency can potentially “evolve” into global asset. As CNBC reported on Tuesday, the head of BlackRock said that many people have been well aware of Bitcoin while its market size was still comparatively small.
In a conversation on Tuesday with Mark Carney, the former Bank of England Governor at the Council on Foreign Relations, Fink said a global market asset can possibly involve the emerging cryptocurrency asset, CNBC noted.
The report also outlined Fink’s statement regarding the real impact of the digital currency’s appearance on the U.S. dollar, minimizing the prominence for the global holders of dollar-based assets on a global scale. The CEO's question was: “Does it change the need for the dollar as a reserve currency?”
Bitcoin is becoming more mainstream as new retailers and investors have jumped on the wagon. The opinions are relatively unprecedented endorsements from a prominent conventional financial leader but take on the role of even more optimistic views on Bitcoin by billionaire hedge fund managers Stanley Druckenmiller and Paul Tudor Jones II have invested in the digital currency.