Amid multiple controversies over the fate of crypto currencies in the international financial system, many entrepreneurs periodically evaluate the role they will play in the future. The CEO of the North American firm Black Rock, Larry Fink, pointed out that they could be a great complement to fiat money, but not a substitute.
Black Rock is going through a good time in the crypto market. Since its foray into the market, the financial company has reported large profits in a few months and expectations about greater exposure in the future are growing day by day. Fink once again singled out crypto currencies as an asset class with a promising future.
In the last six months, the growth of the crypto market in general – and of Bitcoin (BTC) in particular – was accompanied by a significant influx of financial tools and services that brought digital assets closer to the traditional system . The most recent event was the IPO of Coinbase, the largest exchange in the United States.
“I am still fascinated by it. I’m encouraged by how many people are focusing on it,” Fink said. And he added: “The narrative encourages me. They can become a great asset class. ”
On the other hand, the CEO suggested that the demand from his institutional clients is not as high as other financial companies have warned. “We don’t have many inquiries about it. We are investing in that. We are studying it; we made money with it.”