Larry Fink, CEO of the world\u2019s largest asset manager with $9 trillion in assets under management, BlackRock, has revealed he \u201ccan\u2019t tell\u201d if the flagship cryptocurrency bitcoin is going to move up to $80,000 or $0 in the future, but reiterated excitement about the future of cryptocurrency.<\/p>\n
Speaking to CNBC\u2019s \u201cSquawk Box,\u201d Fink noted that he is \u201cnot a student of Bitcoin\u201d right after saying he is \u201cmore in the Jamie Dimon\u201d camp when it comes to the flagship cryptocurrency.<\/p>\n
Jamie Dimon, as CryptoGlobe reported, is the Chairman and CEO of U.S. banking giant JPMorgan Chase, and recently revealed he believes bitcoin is \u201cworthless,\u201d before questioning its 21 million supply cap while speaking at the Institute for International Finance event.<\/p>\n
Bitcoin\u2019s code, it\u2019s worth noting, notes the maximum number of BTC that will ever exist is limited to 21 million. In theory, changing bitcoin\u2019s supply cap is possible, but it would require consensus among network participants to do so. As it stands, most if not all BTC users seem to like the 21 million cap, which was set by Bitcoin creator Satoshi Nakamoto.<\/p>\n
During his interview with CNBC, Fink noted he does believe there is a \u201chuge role for a digitized currency, and I believe that\u2019s going to help consumers worldwide.\u201d Whether Bitcoin, another private cryptocurrency, or an official governmental digital currency will do that remains to be seen.<\/p>\n
The CEO did add that he now has \u201cmore conversations with people in the street on crypto than anything,\u201d adding that this is \u201cfantastic, seeing how people have become so fascinated about it that they\u2019re showing interest in this.\u201d He added:<\/p>\n
As I said, I see huge opportunities in a digitized crypto\/ blockchain-related currency, and that\u2019s where I think it\u2019s going \u2014 and that\u2019s going to create some big winners and some big losers.<\/p>\n
It\u2019s worth noting BlackRock has taken significant stakes in two publicly traded bitcoin mining firms through a capital commitment just shy of $383 million. As reported, \u00a0BlackRock invested $206.7 million to buy 6.71% of Marathon Digital Holdings and $176.1 million to buy 6.61% Riot Blockchain. The investments were spread across several of BlackRock\u2019s mutual funds and exchange-traded funds (ETFs), including its iShares Russell 2000 ETF.<\/p>\n