The Blackrock CEO, Larry Fink, said the market could see another 20% drop, but that the current reduction is a long -term purchase opportunity since the current situation does not propose a systematic risk.
“I see it more as a purchase opportunity than as a sale opportunity, but that does not mean that we cannot go further,” Fink said during an appearance at the New York economic club on Monday.
He pointed out that inflationary pressure is higher than market participants expect and that many already believe that the United States is in a recession. As a result, it does not anticipate that the Federal Reserve reduces interest rates this year.
Last month, Fink published a letter to shareholders, warning about the threat of Bitcoin (BTC) for the US dollar, which could weaken if Americans believe that cryptocurrency is a safer asset than the dollar.
The markets, including the cryptographic market, have been in agitation since the president of the United States, Donald Trump, announced a large number of tariffs on goods imported to the US BTC. UU., Currently trades 5% lower in the last five days and 11% lower in the last month. The actions were further affected with the S&P 500 and Nasdaq by 13% and 15%, respectively.
