Larry Fink was upbeat on Friday when he spoke of the increasing demand for cryptocurrencies among gold investors.
The CEO of $8.5 trillion asset manager BlackRock (BLK) told CNBC following his company’s second-quarter earnings report that “more and more” gold investors have been asking about the role of cryptocurrencies over the past five years, emphasizing the role of exchange. Traded funds (ETFs) have helped democratize access to gold as they might with cryptocurrencies.
“If you look at the value of our dollar, how it’s depreciated over the past two months and how much it’s appreciated over the past five years…an international crypto product can really beat that,” he said. “That’s why we think there’s big opportunity and that’s why we’re seeing more and more interest. And the interest is broad.” [and] worldwide.”
“As with any new market, if it has the BlackRock name on it, we will make sure it’s safe and secure,” added Fink.
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