BlackRock CEO: “Everything Is About To Change” | Larry Fink Bitcoin Prediction

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BlackRock CEO: “Everything Is About To Change” | Larry Fink Bitcoin Prediction

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BlackRock CEO Larry Fink: Bitcoin ETF approvals are ‘stepping stones’ towards tokenization

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We launched the ishares Bitcoin ETF and so I would say to you if we could ETF a Bitcoin imagine what we could do with all financial instruments ETFs are going to be the new engine for fixed income and boy did that get a lot of ridicule by many people in

The business community and today the fixed income markets are totally imbued by ETFs and so at Black Rock when we bought bgi we had $290 billion of ETF today we have 3.5 trillion everything we do at Black Rock CU we believe we’re we’re just halfway there in the ETF Revolution that

Everything is going to be ETF we believe it’s so important to be anticipating the next move but if you had a tokenization everything would be immediate We Believe The Next Step going forward will be the tokenization of financial assets and that means every stock every Bond will have its own

Basically qip it’ll be on one general ledger every investor you and I will have our own number our own Identification the CEO of Black Rock think shares his prediction for Bitcoin and its significance for investors as well as the long-awaited ETF filings recently approved by the SEC he highlights the role of Bitcoin as a digital alternative to Gold serving as a hedge against inflation and currency devaluation think emphasizes that

Bitcoin is not tied to any specific currency making it an international asset that investors need he says black Rock’s recent engagement and commitment with Regulators ensures the approval of Bitcoin related ETF filing think addresses the regulatory concerns and discusses navigating the crypto landscape and believes that black Rock’s track record speaks for itself

Demonstrating the company’s dedication to responsible and long-term investment strategies V sees the digitization of Bitcoin and cryptocurrency as a force that can revolutionize finance and democratize investment by tokenizing assets and securities including Bitcoin he believes that the cost of investing can be significantly reduced making it more accessible for a broad range of

Investors let’s get right into the latest interview with Larry fin as he gives his prediction for Bitcoin and cryptocurrency in 2024 for the first three years of thinking about I was a naysayer and about two years ago I I switched and I’m I’m I’m act you know as I said in the

Last two years I’m a big believer but I’m a Believer in it because I do believe um it is an alternative source for wealth holding I don’t believe it’s ever going to be a currency I believe it’s an asset class you know I believe it goes up as if the world is more

Frightened if people have fearful of geopolitical risk they’re fearful of their own risk um it’s no different than what gold represented over thousands of years it is a asset class that that protects you and and unlike gold where we manufacture new gold we’re almost at

The ceiling of the most of the amount of Bitcoin that’ be created I see value and having an ethereum ETF as I said these are just start stepping stones towards token ation and I I really do believe this is where we’re going to be going we have the technology to tokenize today if

You want to talk about think about this if you had a tokenized security and you have a tokenized identity you Andrew the moment you buy or sell an instrument it’s known it’s on a general ledger that is all created together um you want to talk about issues around money laundry

And all that this eliminates all corruption by having a tokenized system we we were pretty mistreated for a couple years and that because we said uh active and passive can coexist uh obviously we were right on that two we said the fixed TI Market will be transformed through ETF that has

Now happened we believe ETF is a technology that’s going to transform every asset class we believe everything will be done through ETFs uh and so we believe this is just the beginning let me be clear I think ETFs are step one in the technological revolution in the financial markets step

Two is going to be the tokenization of every financial asset and to me this is where we believe it’s going so we’re looking at uh Bitcoin we’re looking at ETFs in the same manner these are technological changes that can allow us to move forward by the way in terms of

Inflows as it relates to bitcoin we were very happy with the flows it appears that we were received about 40% of the flows yesterday I mean one day doesn’t make anything are these new customers are these people who um are coming out of other fund I mean

Grayscale is the biggest player in the space right now are you trying to take you know take share from them in terms of take taking those clients over or you trying to create a new class of customer primarily we’re trying to create um an opportunity for new customers can invest

In in in this financial instrument over the long run do we believe just think about the fee differential between an ETF and some of these trusts right these trusts are like 120 basis points and these are 20 to 30 Bas points in the ETF wrapper well it’s expensive by the way

For if you’re a gr scale customer to sell your shares well it’s very expensive yes and this is the big issue with the SEC and this is something what you may want to ask Gary the industry asked to transfer inine into a ETF and that was denied by the SEC that’s a fine

Meaning let’s just put a fine point of that the industry meaning companies like yours asked the SEC to allow folks who met have owned shares via a grayscale toble to transfer those in kind to a black rock or Fidelity or whomever and so that there would be no tax

Ramifications that was not denied they wanted to really just create from scratch cash only which we all respect the sec’s U reasoning um that creates an opportunity actually for for grayscale to keep those customers for much longer time it does but I think over the long run when you

Start adding up the fees and adding up the fees uh people are going to start thinking about um redeeming and then ultimately going into an ETF embracing an unyielding enthusiasm for the Bitcoin realm think confidently predicts that explosive growth is looming on the horizon as Black Rock and many other

Crypto Giants are doing just that think reassures that a long expected surge awaits leading up to the highly anticipated 2024 harving event for Bitcoin we believe we’re we’re just halfway there in the the ETF Revolution that everything is going to be ETF and we needed to ensure both active products passive products

Um digital products are going to be used through the vehicle of ETFs at the same time in this architectural change we’re elevating the whole concept that we are going to be curating more and more of our performance-based products too so it’s a it’s a very large architectural

Change a lot of people have asked me I is most uccessful division within Black Rock look what it did why are you doing this now and we believe it’s so important to be anticipating the next move but the fact that stands out for me is over five years clients rewarded

Blackw with $ 1.9 trillion doar this is not market movement this is how much new money we receive from clients worldwide um and and and so um clients have over the long run have great needs to put money to work we Advocate only long-term strategies we Advocate that you need to

Be in the market you can’t be in and out of the market if you’re looking to do that there are many venues where you could be doing that um we are trying to help people build uh retirement savings we want people to have a life in retirement with dignity we spend so much

Time in our in our world talking about how we could have healthier lives but we spend no time focus on can we afford that longevity and black rock is a firm that tries to provide that type of long-termism I I do believe I we spend a great deal

Of time about talking about Hope in a world today where we have greater hatred and greater fear I think there are many opportunities to think about despite all those issues that long-term investing is the way to go and I and I and I believe you know at the moment right now we we

Have trillions of dollars money sitting in a money market funds um and so there is that’s just an indication of fear we have more money sitting in bank balance sheets right now in deposits that’s an indication of fear or uncertainty and I do believe one of the greatest um

Differentials between us and any country in the world is the strength of the US capital markets and this is something that we at Black Rock beted on years and years ago that we believe in and so over time we believe the opportunity to invest in our economy investing in our

Companies and at times when you want to have a more global view investing in the world over a long run you’re going to outperform any bank deposit you’re going to outperform any money market fund and it’s our job uh to provide the appropriate investment for our clients

So they can have that life with dignity think recognizes the current challenges associated with Bitcoin such as the bid ask spread and transaction costs he hopes that Regulators will view each ETF filings as an opportunity to address these challenges and create a more affordable and democratized crypto Market think also highlights the

Potential of blockchain technology to streamline transaction processes and reduce the need for intermediaries in the financial ecosystem his perspective on bitcoin and black Rock’s involvement underscores the firm’s belief in the digitization of assets and the transformative potential of cryptocurrencies while regulatory considerations and challenges exist Black Rock remains is committed to

Providing investors with Innovative investment opportunities and driving the adoption of digital assets within a regulated framework what are your thoughts on Larry Fink’s opinion regarding Bitcoin and how will black Rock’s approval completely change the crypto landscape let us know in the comments below thanks so much for

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