The CEO of Blackrock, the world’s largest asset management company, stated that Bitcoin “can develop into a global market.” In addition, this cryptocurrency has a “real impact” on the U.S. dollar, making the demand for U.S. dollars “less relevant”.

Bitcoin enters the global market

At the External Relations Committee seminar held on Tuesday, Blackstone Group CEO Larry Fink (Larry Fink) made some comments about Bitcoin in a conversation with former Bank of England Governor Mark Carney (Mark Carney) Bullish statement.

The Blackstone Group is the world’s largest asset management company with more than 7 trillion US dollars in assets under management.

Fink said: “Bitcoin has attracted the attention and imagination of many people.” He continued: “We treat it as a real thing.” But he pointed out that the cryptocurrency market “is still untested. Compared to other markets. , This is still a very small market.” In pointing out the price of Bitcoin, “there are these big moves every day. This is a weak market,” said the CEO of Blackstone Group:

Can it develop into a global market? Probably.

He elaborated: “Of course there are many evidences of the imagination of people who want to learn or are interested. To me, this is a very convincing signal.” The CEO went on to point out that the Blackstone website is about Bitcoin. The page has recently generated about 600,000 views, while the monetary policy page and the Covid-19 page have only been viewed 3,000 times each.

Bitcoin has a real impact on the U.S. dollar

Fink also shared his views on the impact of Bitcoin on the U.S. dollar with Carney. He asserted that “owning a digital currency has a real impact on the U.S. dollar,” he stated:

Owning a digital currency reduces the demand for dollars.

The CEO of the world’s largest asset management company clarified: “I’m not talking for Americans. I’m referring to the international holders of US dollar assets.” He then asked whether cryptocurrencies would change “if There is a real digital currency that is separate from USD-based assets, which requires the U.S. dollar as a reserve currency.”

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Fink’s comments came before Rick Rieder, the chief investment officer of the Blackstone Group’s global fixed income, put forward another positive view on Bitcoin. He said last month that “cryptocurrency will continue to exist” and that Bitcoin “is a durable mechanism that can replace gold” as a store of value and can hedge against the devaluation of fiat currencies.

More and more hedge fund celebrities also recognize Bitcoin, including Paul Tudor Jones, Bill Millerwith Stan Druckenmiller.

Do you agree with Blackrock CEO Larry Fink’s views on Bitcoin and the U.S. dollar? Let us know in the comments section below.

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