저자: LarryFink · 외국인
요약 보기
래리 핑크는 토큰화가 전통 자산(부동산·주식·채권)으로 확산될 것이라고 주장하며, 블랙록의 디지털 자산 플랫폼과 BUIDL 머니마켓펀드, 비트코인 ETF(IBIT, 1,000억 달러 이상 규모)의 성장을 근거로 든다. 아울러 시장 타이밍보다 장기 투자의 복리 효과(연 8%, 30년간 0.5%p 추가 수익 시 퇴직자금 15% 증가)가 중요하다고 강조한다.
다듬은 글
a crypto fan. Oh, we have a game changer clip today. You're going to hear from CEO Larry Flink of Black Rockck. You heard it right, Black Rockck. He's going to be talking about how traditional financing is going to be shifting to tokenization. He's going to talk about ETFs, how they affected Bitcoin and Ethereum, how it affected Black Rock, and how much this make them a lot of money.
All right. So, in this clip, you're going to hear how real world assets come into the blockchain technology. All right. You don't want to miss this one. All right. You just tuned in as the crypto fan. Make sure you leave a message, leave a comment. Let me know what you think about this clip. Make sure you hit a like and subscribe if you're down with this crypto army.
Let's get into this. Larry, good to have you here. Thank you for being here. Carl, David, um, and Jim will uh we'll probably ask some questions as well. No doubt about that. Um, I guess you know it seems as though things are working on all fronts for you. Is this as good as it can get, Larry? Well, I it is gratifying.
I mean, what what really identified us in the in the third quarter, the breadth of where we grew. Um, it wasn't just one business area. It was from cash uh to our systematic equity, our AI based equity team uh that grew 30 billion over the course of the year, 10 billion in the quarter. Um crypto, our digital asset platform, our private markets platform, our investment technology grew as fast as they have in many many quarters now.
Um and then uh you know just across the board ETFs record quarter. So it was not just one product area. It was not just one region. It was the completeness. And I think it comes down to the whole portfolio, the entirety of a conversation. You know, when we bought BGI in 20 in 2009, no one thought you could marry passive and active.
Well, not only we did that, we we've transformed how a portfolio is being engaged. And now with passive, active, publics, privates, and then we overlay investment technology and now digital, we're the firm that more and more people are going to worldwide. What do you mean by digital? Um, you know, I do believe we're just at the beginning of the tokenization of all assets from real estate uh to equities to bonds across the board.
Um, there's [cheering] It's very loud here. It is very loud, but it's good. Capital's at work. You like that? I love capital at work. But there's $4.1 trillion of money in sitting globally in digital wallets. A lot of that money is outside the United States. If we could tokenize a ETF, make you know digitize that ETF.
We could have investors who are just beginning to, you know, invest in markets through, let's say, crypto. they're investing in it, but now we could get them into the more traditional long-term retirement products. So, we look at that as the next wave of opportunity for Black Rockck over the next tens of years as we start focusing moving away from, you know, traditional financial assets by re repotting them in a digital manner and then having people stay in that digital ecosystem.
they can have their cash and we have the largest uh cash money market fund that's tokenized called Bidd uh you know our Bitcoin uh IBIT is now over a hundred billion billion dollars I know from nothing not that long ago two years ago zero yeah so I know you weren't a huge proponent of crypto as we know
I love it now but I grow and learn I heard you say that on 60 minutes I did Jim Yeah, Larry, you know, I wrote uh how to make money in any market a lot because of our talks. Yes. A lot because of what you did and I dedicate a lot of it to you because I say that people don't know how to invest. People feel that their parents are going to be richer than they ever were.
Do you feel that your your offerings if people were to embrace them and work at a company that that had this we could kind of change this world where younger people spend more money on poly market betting about whether some you know on some political event when if they go with what you have they might be able to through savings be better be wealthier than their parents.
So a great statistic if you put money to work on January 1st 2000 and a year later you had the financial you had the dotcom crisis six seven years later you had the financial crisis you had the covid crisis you still would have made 8% compounded over that entire 25 years versus earning 1%. It is so compelling to be in the market and this is the tr this is the story.
It's not about if our market's going up or down. Is there a bubble in crypto or is there a bubble in in technology? It's about being in the market throughout the the cycle. Even if you put money in in the United States in the year 1900 and then you had the great recession, you had you know the depression, you had all these things, you would have earned over 9% over 125 years.
So, I'm not here to tell anybody when the what if the markets are going to go up or down, but over a long horizon. And every individual who's thinking about it should be focusing on these opportunities. And I'm I'm I'm absolutely thrilled to see more and more young people investing in equities, not just Polycom.
They're investing in equities. And if they can now translate that to from a just a trading and flipping account into a long-term investment strategy and be an owner of those over this over long horizons over your lifetime, you're going to do really well. And another interesting point, I think I've said this before, but over a 30-year cycle, if you earned an extra half a percent, over 30 years, a half a percent, your retirement pool of money is up 15% more.
Just a half a percent. So the virtue of compounding over 30 years, there's nothing more important. And and Jim, you write about this all the time. This is what it takes. It's about being in the market, being focused on this over a long horizon. And and and the young people who are worried, they're not going to have much to worry about.
America still is the best place in the world to invest. And I would be continuing to invest here
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