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$9.49 Trillion Asset Manager BlackRock CEO Says Company Sees Very Little Demand On Crypto

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Wed, 07/14/2021 - 11:41
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Yuri Molchan
Chief executive of the BlackRock asset management company says there is very little demand for crypto from investors
$9.49 Trillion Asset Manager BlackRock CEO Says Company Sees Very Little Demand On Crypto
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According to the Bloomberg Terminal, Laurence Fink, the chief of the BlackRock asset management fund—with a whopping $8.7 trillion AUM—has shared with the media that the company does not see any significant demand from institutional investors for digital assets such as Bitcoin, Ethereum or other top 10 cryptocurrencies.

According to CNBC, the amount of assets under the company's management has grown to a mind-blowing $9.49 trillion.

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As reported by U.Today previously, Fink stated that Bitcoin may become a store of value; however, there are some issues that may make this unlikely to happen.

As possible barriers to that, he mentioned a small market for Bitcoin: high volatility and the fact that it is still untested.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.