The Larry Fink Crypto Evolution (2017 - 2024)

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결론: 래리 핑크는 암호화폐를 투기적 자산으로 보며, 고객 수요는 아직 없지만 장기적으로 자산군이 될 수 있다고 평가한다. [암호화폐의 성격과 현황] 암호화폐는 주로 투기적 성격이 강하며, 자금세탁 규모를 보여주는 지표 역할을 한다고 언급했다. [블랙록의 대응] 현재 고객들로부터 암호화폐 노출에 대한 수요를 듣지 못했고, 일부 벤처캐피털 성격의 문의만 있다고 설명했다. 블랙록이 디지털 자산 거래나 상품을 만들 시점인지에 대해서는 명확한 답을 하지 않았다. [송금·통화 관점] 해외 송금 수수료가 5~10%에 달하는 만큼 리브라 같은 방식으로 외환 교환을 민주화할 필요가 있다고 봤다. 다만 암호화폐가 통화를 대체한다고는 보지 않는다. [비트코인과 금] 비트코인은 특정 통화에 기반하지 않은 국제 자산으로, 인플레이션이나 통화가치 하락에 대한 헤지 수단으로서 금을 디지털화한 역할을 할 수 있다고 봤다. [기술과 시장 상황] 블록체인 기술 자체는 거래 처리를 가속화할 수 있어 긍정적이라고 평가했다. 최근 랠리는 이스라엘 전쟁과 글로벌 테러 등으로 인한 안전자산 선호(flight to quality)의 성격이 강하며, 암호화폐도 그 역할을 할 수 있다고 언급했다. [장기 전망] 소버린 웰스펀드, 연기금, 대형 패밀리오피스의 장기 투자 관점에서 암호화폐 논의는 매우 작은 비중이라고 밝혔다.

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01. really much more of a speculative uh plat you know people are speculating on it but most importantly what I think about most of these cryptocurrencies it just identifies how much money laundering there is being done in the world how much people are trying to move currencies from one place to another is it time yet for Black Rock to either trade in digital assets or digital virtual currencies if you prefer or to create a product for your clients we're not hearing we're not hearing any demand from any of our clients other than Maybe some speculative stuff we're being asked that question but it's more of like a venture capital type of uh interchange but we're not hearing clients saying we want to use this as an ass of class no is it true that you're building out of cryptocurrency capability uh no don't your clients want crypto exposure no I don't believe any client has sought out crypto exposure really yes but at some point they might do you need to be prepared I don't at the moment know I have not heard from any one client they're looking to to uh uh to buy a cryptocurrency at this time so and when you think about all the people who send money you know they may work in one country send money back home they generally do that through organizations that charge 5 to 10% there is a need whether it's a Libra or something else to democratize the exchange of foreign currencies the as the bitcoiners were say that's progress for you at least to get to the point where you're saying that about Libra you're still not well I'm still fascinated about it I'm encouraged by how many people are focusing on it I'm encouraged about the narrative it may become a great asset class and I do believe this could become a great asset class you know cryptocurrency I don't believe it's a substitute for currencies I think we're going to have cryptocurrency of dollars cryptocurrencies of other currencies but I don't believe uh we should be Focus we should think about crypto as a substitute of currency but it could but I am fascinated by it as an asset class I do believe there's components in the financial markets about crypto that is real that is growing but but if you're asking me specifically about long-term investing from Sovereign wealth funds from Pension funds from Retirement services from big family offices the the conversation about crypto is a a very minor conversation specifically on on bitcoin as I've said in the past um we're a believer in digitization of of of products I was skeptical because the early users were it was heavily used for let's say elicit activities um and I think as it became more accessible and also I do believe the role of crypto is um it is it it's digitizing gold in many ways it's a it's a instead of investing in gold as a hedge against inflation a hedge against the O the onerous problems of any one country or or the or the devaluation of your currency what whatever country you're in um let's be clear Bitcoin is is an international asset it's not based on any one currency and so it it it can represent a asset that people can play as an alternative well no I actually believe the underline technology is fantastic because the blockchain will help you accelerate the processes of transactions the blockchain will help you identify I mean let's be clear if you have a pure blockchain and you have every you have knowledge of who the buyer and sellers are we are hearing from clients around the world about the need for crypto I mean when you think about I think some of this rally is Way Beyond the rumor I think the the rally today is about a flight to Quality with all the you know all the issues around the Israeli War now um Global terrorism and I think there's more people running into a fight the quality whether that is in treasuries gold or crypto depending on how you think about it and I believe crypto will play that type of role as a flight to Quality