He is still a great admirer of digital assets, Blackrock’s CEO, Larry Fink, said he is not blind to the possible risks for the United States of Bitcoin’s increase (BTC) to prominence.
“The United States has benefited from the dollar that serves as a world reserve currency for decades,” Fink said in his annual letter to shareholders. But that is not guaranteed to last forever … If the United States does not have its debt under control, if the deficits follow balloons, the United States runs the risk of losing that position to digital assets such as Bitcoin. “
“Obviously I am not anti -digital assets,” Fink continued. “But two things can be true at the same time: decentralized finances are an extraordinary innovation. It makes the most rapid, cheaper and more transparent markets. However, that same innovation could undermine the economic advantage of the United States if investors begin to see Bitcoin as a safer bet than the dollar.”
Fink’s letter arrives at a time of high uncertainty and market anxiety among investors on the country’s economic status amid changes in the policies established by the president of the United States, Donald Trump. To balance the national deficit, Fink said, investors must diversify their portfolios to add private market assets as well as actions and bonds.
Duplicating their commitment and belief in digital assets, Fink said that he believes that the tokenized funds will be as known among investors as the funds quoted in exchange (ETF), provided that the industry can create a better infrastructure for digital identities, which Fink believes that it is an obstacle to obtaining institutional investors of the fine decentralized completely adoption.
“Every action, each bonus, each fund, each asset, can be token. If they are, the investment will revolutionize,” he wrote. “If we take the construction of an efficient and accessible financial system seriously, defending only tokenization will not be enough. We must also solve digital verification.”
Blackrock, in January 2024, became one of the emitters to launch a Spot Bitcoin ETF. Its product, the Ishares Bitcoin Trust (Ibit), became the most successful ETF in the history of the asset class. As of today, the fund manages almost $ 50 billion in assets, with half of that from retail investors. The asset manager has also issued a fund of the Tokenized Monetary Market, Buidl, which is on the way to cross $ 2 billion in assets in April, which makes it the largest tokenized background currently in the market.
