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

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Wed, 14/07/2021 - 11:41
$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.

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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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