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  • Home
  • News
    Bets increase on a soft landing in the U.S

    Bets increase on a soft landing in the U.S

    69% of investors believe metaverse entertainment will change social lifestyles

    69% of investors believe metaverse entertainment will change social lifestyles

    European oil companies want to follow in Chevron’s footsteps to operate in Venezuela

    European oil companies want to follow in Chevron’s footsteps to operate in Venezuela

    Amgen buys Horizon Therapeutics for US$ 25 billion

    Amgen buys Horizon Therapeutics for US$ 25 billion

    Europe prepares law to make airlines that pollute more pay higher costs

    Europe prepares law to make airlines that pollute more pay higher costs

    Why are Asian investors selling their tech stocks?

    Why are Asian investors selling their tech stocks?

    Here’s what the economy and markets will look in 2023, according to JP Morgan

    Here’s what the economy and markets will look in 2023, according to JP Morgan

    Are technology stocks coming to the end of their reign?

    Are technology stocks coming to the end of their reign?

    Amazon fined millions for manipulating algorithms in its favor

    Amazon fined millions for manipulating algorithms in its favor

  • Markets
    Bets increase on a soft landing in the U.S

    Bets increase on a soft landing in the U.S

    What are CFDs and what are their advantages?

    Getting started with CFD trading

    Goldman Sachs lands with more strength at Santander and BBVA

    Goldman Sachs lands with more strength at Santander and BBVA

    With inflation in recession, what stocks should you consider?

    With inflation in recession, what stocks should you consider?

    Should payment for order flow be maintained in the stock market?

    Should payment for order flow be maintained in the stock market?

    Why are Asian investors selling their tech stocks?

    Why are Asian investors selling their tech stocks?

    Here’s what the economy and markets will look in 2023, according to JP Morgan

    Here’s what the economy and markets will look in 2023, according to JP Morgan

    Are technology stocks coming to the end of their reign?

    Are technology stocks coming to the end of their reign?

    Inflation is starting to ease but not enough

    Inflation is starting to ease but not enough

  • Investing
    Two biotech stocks that could explode soon

    Two biotech stocks that could explode soon

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    Ideas for investing in the electric vehicle industry

    Mercado Libre could be one of the best investments for the long term

    Mercado Libre could be one of the best investments for the long term

    Three cheap tech stocks for 2023

    Three cheap tech stocks for 2023

    Where to invest in 2023? These are the most likely trends

    Where to invest in 2023? These are the most likely trends

    Will Ford shares be profitable in 2023?

    Will Ford shares be profitable in 2023?

    Some interesting options for investing in leisure and travel companies

    Some interesting options for investing in leisure and travel companies

    Plug Power’s commitment to green hydrogen

    Plug Power’s commitment to green hydrogen

    Investing in Auto Trader: vehicle sales at a turning point

    Investing in Auto Trader: vehicle sales at a turning point

  • Technology
    Banning TikTok in the U.S. could benefit Meta

    Banning TikTok in the U.S. could benefit Meta

    Microsoft leads the ranking of the best-managed companies in 2022

    Microsoft leads the ranking of the best-managed companies in 2022

    Apple: consequences of the Foxconn conflict will continue until 2023

    Apple: consequences of the Foxconn conflict will continue until 2023

    5 must-have skills to get a job in 2023

    5 must-have skills to get a job in 2023

    UK changes strategy on Internet content control

    UK changes strategy on Internet content control

    EU organized a party in the metaverse and nobody attended

    EU organized a party in the metaverse and nobody attended

    The metaverse companies with the highest revenues in 2022

    The metaverse companies with the highest revenues in 2022

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    Nintendo sells 10 million Switch in 3 days and its shares rise

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    The future of cryptocurrencies, according to Larry Fink

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    How Much Bitcoin Should You Buy: 5 Factors to Consider in 2023

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    Between two extremes: what will the price of Bitcoin be in 2023?

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    FTX crash spreads and affects BlockFi

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    EU organized a party in the metaverse and nobody attended

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    Brazilian Congress approves bill to regulate cryptocurrencies

    Brazilian Congress approves bill to regulate cryptocurrencies

INVESTOR TIMES
Home Cryptocurrencies
ACTUALIZADO: December 11, 2022

The future of cryptocurrencies, according to Larry Fink

BlackRock CEO Larry Fink says that in the future blockchain will be key to business, but that most crypto companies are going to disappear.

Pablo Petovel by Pablo Petovel
12/12/2022 - 18:10
in Cryptocurrencies
Reading Time: 2 mins read
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  • The CEO of BlackRock, the fund that holds the largest amount of assets in the world, has an ambiguous opinion regarding the future of the cryptocurrency sector.
  • On the one hand, Fink understands that blockchains will be the basis of the next generation of securities markets. Not for nothing did he sign a multi-billion dollar deal with Coinbase.
  • On the other hand, he says that there are too many crypto companies today and that many have no backbone, so they will disappear.

Bitcoin, Ethereum and other major digital currencies have suffered a big drop in 2022 since prices started to pull back from the second quarter.

The price of Bitcoin fell nearly 70 percent so far this year to $17,000 per unit, taking with it the price of Ethereum, the second-largest crypto by volume, and prompting fears that the market could be heading not only for a debacle, but, worse, oblivion and extinction.

In this regard it is timely to rescue the words of Laurence Fink, CEO of BlackRock, the world’s largest investment management firm with $8 trillion in assets, which has signed an agreement with the cryptocurrency trading platform Coinbase.

Fink predicted that cryptocurrency blockchain technology will be the beginning of the generation of markets to come.

“I think the generation of markets to come, the next generation of securities, will be blockchain technology,” noted the BlackRock CEO, who had earlier expressed skepticism about digital currencies in remarks with the New York Times.

BlackRock on the future of cryptocurrencies

The blockchain technology of Bitcoin and the other digital currencies provides the ability for traditional assets to tokenize on a public ledger, which will make a transfer of stocks, bonds, real estate and alternative investments cheaper and easier.

“What’s more, I believe blockchain technology will be critical,” Fink added. “Imagine instant settlement of bonds and stocks, with no mediator, we will be able to lower fees radically. It changes the whole ecosystem,” he added

However, the BlackRock CEO warned that many of the world’s cryptocurrencies and major crypto companies will not survive, noting that the fall of cryptocurrency exchange platform FTX is misaligned with the foundation of the crypto world.

The platform’s reliance on its digital currency exchange FTT, which was used as collateral for loans, was instrumental in its collapse after FTT’s value plummeted.

“I think a lot of the companies are not going to exist,” Fink noted. BlackRock made indirect investments of more than $24 million in FTX. However, it was not at the core of the Fink-led company’s business, the CEO said.

A few months ago, the investment manager launched a blockchain company exchange-traded fund, giving investors exposure to more than 30 different companies.

Bitcoin price at the end of 2022

At the same time, pricing analysts of digital currencies such as bitcoin and Ethereum are trying to gauge market sentiment after two major Fed shakeups a few days ago.

“The economic data released last week sent a mixed signal and BTC lost its way after hitting $17,000 per bitcoin,” Yuya Hasegawa, crypto market analyst at Bitbank, said at a public conference.

“By surprise, Bitcoin is headed to test the lower boundary between July and October, when the value plunged due to the FTX plunge in November. It is unlikely that the price will ever go above $17.6k,” he added.

Tags: cryptocurrencies

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