Blackrock CEO Larry Fink changes his attitude to cryptocurrencies radically: revolutionize cryptoassets and could serve as protection against derogatory currencies worldwide
Blackrock CEO Larry Fink changes his attitude to cryptocurrencies radically: revolutionize cryptoassets and could serve as protection against derogatory currencies worldwide
Larry Fink, the CEO of Blackrock, recently changed his attitude towards cryptoassets and now recognizes her potential in finance. In a TV interview on July 6, Fink commented that cryptocurrencies, especially Bitcoin, have the potential to revolutionize finance and protect against derogatory currencies worldwide. This rethinking is remarkable, since Fink was skeptical of cryptos before and Bitcoin even referred to as "Index for money laundering" in 2017.
This change of heart can be partially attributed to the work of the crypto community, which has contributed to demystifying the investment class and showing its advantages. Blackrock, the company in which Fink is CEO, even made an application for a Bitcoin spot ETF on the stock exchange.
Blackrock is a globally acting asset manager with its headquarters in New York City and is one of the most influential companies in the financial sector. The company was founded in 1988 by Larry Fink, Robert Kapito, Susan Wagner and other partners and today manages a fortune of several trillion dollars.
Blackrock offers a wide range of financial services, including investment funds, hedge funds, pension funds and tailor -made investment strategies for institutional investors such as pension funds and governments. But what makes Blackrock particularly influential is his role as a great shareholder in numerous companies worldwide. Through its investment funds and Exchange Traded Funds (ETFs), BlackRock holds investments in thousands of companies in various industries. These participations enable Blackrock to have a significant influence on the business decisions and the corporate governance of these companies.
In addition to its influence in the economy, Blackrock also has close connections to politics. Larry Fink has emphasized the need for companies to assume social and ecological responsibility. This has led to discussions about the role of Blackrock as an intermediary between business and politics. Through his influence on companies and its direct interaction with governments, Blackrock can significantly help shape the political and economic agenda.Blackrock also plays an important role in the debate about sustainable investments. The company has undertaken to integrate environmental, social and governance criteria (ESG) into its investment strategies. These criteria set a standard that many other investors follow.
The enormous size and the influence of Blackrock have also caused criticism. Some argue that the company has too much power due to its size and participations and has too much system relevance. The close integration of black rock with many large companies could lead to conflicts of interest and impair the competition. However, it is important to note that Blackrock must comply with strict regulatory regulations and is regularly monitored by supervisory authorities. The company has also taken measures to avoid potential conflicts of interest and to perceive its responsibility as a wealth manager.
Overall, Blackrock is undoubtedly an important player in the global financial market. With its enormous assets, its participations in companies and its commitment to sustainable investments, the company significantly shapes the financial world. The influence of Blackrock on business and politics will continue to play an important role in the future, which requires careful observation and regulation.