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.
BLACKROCK CEO ON CRYPTOCURRENCIES SAYS "WE SEE VERY LITTLE INVESTOR DEMAND" ON THOSE TYPE OF THINGS
— *Walter Bloomberg (@DeItaone) July 14, 2021
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.
Tomiwabold Olajide
Denys Serhiichuk
Vladislav Sopov