[2020-12-02] Bitcoin Makes US Dollar Less Relevant - BlackRock CEO

[blacky90]

While the most popular cryptocurrency, bitcoin (BTC) is still an untested territory, it possibly can evolve into a global market, and already makes the US Dollar less relevant, according to Laurence D. Fink, CEO of the world’s largest asset manager, BlackRock.

He was answering a question on digital currencies during The 2020 Stephen C. Freidheim Symposium on Global Economics on December 1.

"Having a digital currency has a real impact on the US Dollar," Fink said, while former Bank of England Governor Mark Carney, who was also participating in this discussion, seemingly agreed with this statement.

According to the CEO, digital currency makes the need for the US Dollar less relevant.

"I'm not talking about Americans, I'm talking about international holders of dollar-based assets. The question I would raise - does it change the need for the dollar as a reserve currency if they were a true digital currency that was separated from dollar-based assets?" he asked.

https://cryptonews.com/news/bitcoin-makes-us-dollar-less-relevant-blackrock-ceo-8490.htm

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[Darker45]

There's so much truth in Fink's words but I guess the man is highly understating Bitcoin or Bitcoin's situation. Or is it perhaps because he's just looking at a gigantic potential of the technology?

Bitcoin is not untested. It is young but it is certainly not untested. But thanks anyway for describing the $360-billion Bitcoin market as "untested, thin and relatively small market." That means a lot especially to those who think Bitcoin has already reached a certain dangerous height that it could fall hard anytime.

Anyway, as a truly global asset and a digital currency at the same time, Bitcoin is indeed conquering areas which used to be the USD's territories.

[bbc.reporter]

@Darker45. Laurence Fink is larping similar to much of the larper maximalists who want a price pump. What currency will they sell their coins to when it is time to take their profits?