Blackrock CEO, Larry Fink has stated that their clients are not showing interest in putting their money in the crypto industry field.
He stated that its new asset class is not interested in its clients.
“I do not believe that any of the clients are interested in cryptocurrencies. I did not hear from either of them: “I need to be there.” Fink said.
A team of experts from different fields of business created by BlackRock will have to analyze information about cryptocurrencies and lock-up, and then find out whether the company should invest in bitcoin futures.
Also, experts will learn the experience of competitors of the investment giant who implemented cryptocurrency projects in their business, in order to assess their impact on BlackRock.
However, Larry Fink said that BlackRock is studying cryptocurrencies in order to understand how they work and to determine whether they will be “legitimized” as an alternative to cash.
At the same time, the head of BlackRock noted that he was “full of enthusiasm” for the technology of blockades. According to him, it will help improve the electronic system Aladdin BlackRock for risk management, investment portfolio, and trading operations.
Today’s statements by Flink have already provoked a reaction from the cryptocurrency community. So, the founder and CEO of The Block Mike Dudas wrote on Twitter that Larry Fink frankly lies and that he is surprised, as he simply did not laugh during his words.
The CEO of @blackrock lies in his teeth today: “I do not believe that any client has sought out crypto exposure.” I mean, that is just an astonishing statement; shocked he did not break out.
The head of the Digital Currency Group, Barry Silbert, limited himself to one short phrase: “Dear BlackRock, try,” referring to the possible addition of cryptocurrency to the platform.
— Barry Silbert (@barrysilbert) July 16, 2018