[2023-07-16] Forbes: BlackRock CEO Issues ‘Important’ Crypto Prediction After...

[pawel7777]

Larry Fink (BlackRock) makes the headlines again with his bullish statement, saying that there's a big demand for crypto from their investors. How nice as this might sound, let's never forget that these people are not our friends.

‘Transcend’ The U.S. Dollar—BlackRock CEO Issues ‘Important’ Crypto Prediction After Huge Week For The Bitcoin, Ethereum And XRP Price

https://www.forbes.com/sites/digital-assets/2023/07/16/transcend-the-us-dollar-blackrock-ceo-issues-important-crypto-prediction-after-huge-week-for-the-bitcoin-ethereum-and-xrp-price/

BlackRock, the world's largest asset manager that looks after $10 trillion worth of value, has triggered a stunning bitcoin and crypto boom in recent weeks.
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Now, BlackRock's legendary chief executive Larry Fink, who shocked the world when he announced a surprise crypto flip last week, has said he expects crypto to "transcend" traditional currencies, including the U.S. dollar.

"Importantly, because it’s so international, [crypto is] going to transcend any one currency in currency valuation," Fink, who last week said bitcoin and crypto could "revolutionize finance" in a dramatic reversal from his previous position of bitcoin being nothing more than an "index of money laundering," told CNBC.

"More and more of our global investors are asking us about crypto," Fink said, explaining BlackRock's move to file an application for a U.S. spot bitcoin exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC) last month.
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[yhiaali3]

They are certainly not our friends, they are looking out for their interests and lining their pockets but what can we do if they decide to enter Crypto.

Big companies are interested in profit anyway, so let's hope that their entry into the crypto space has positive effects.

[Kryptowerk]

They are certainly not our friends, they are looking out for their interests and lining their pockets but what can we do if they decide to enter Crypto.

Big companies are interested in profit anyway, so let's hope that their entry into the crypto space has positive effects.

Obviously. And usually such statements will soon be followed by the proposal of a digital-dollar or maybe some other idea of a (possibly international) centralized "cryptocurrency".
Or they indeed just intend to fill their pockets while at the same time trying to gain the maximum control possible on the market.

That said, statements like these usually do have a positive short term effect on the crypto market. Still - it's always scary to see the mega companies such as BlackRock possibly making moves. It usually is not in favour of "the people".

[suzanne5223]

Yes, you're right most powerful multinational investment companies are never a friend of common people and I believe that their investors see how powerful and beneficial Bitcoin was without the total support of the government is the reason why they are now making huge demands for it. However, they will join the market to play some market manipulation game that's sure, and the exact reason why I agree with what you said about them (BlackRock, Fidelity, etc) is not to be our friend but we need them in the market for better exposure and more government acknowledgment of Bitcoin.

[Kakmakr]

It just shows you how "money" and "profits" can change people from a Bitcoin hater to a Bitcoin supporter. He hated Bitcoin and warned people against it, but his investors wants more profits and they know that BlackRock can pump the price, so they influenced him and I can give you a guarantee that they bought lots of bitcoins prior to his announcement. 

Yes, we see a spike in the price... but "speculators" like this... can also dump large amounts of bitcoins on the market..at a drop of a Dime... and that will trigger a panic wave of selling and also a huge drop in the price. 

[cr1776]

He is right about bitcoin transcending the dollar or any other fiat currency.  Good money replaces bad money because enough people know that in the long term, fiat loses value due to inflation.  People will dump the money that is worse and replace it with something better.  While many people don't understand it or don't care, enough people are clueing in.

Not to mention the other uses for bitcoin.