World’s Largest Asset Manager Blackrock Sees ‘Very Little’ Demand for Cryptocurrencies

According to CEO Larry Fink of Blackrock, the world’s largest asset manager with $9.5 trillion under management, has sees “very little” demand for cryptocurrencies, including bitcoin.

Blackrock’s CEO Talks About Crypto Demand

Larry Fink, the CEO of Blackrock, the world’s largest asset manager, talked about bitcoin on CNBC Wednesday as his firm announced a better-than-expected quarterly profit. Blackrock’s assets under management jumped to a record $9.49 trillion in the second quarter from $7.32 trillion a year earlier.

Fink said: “Again, in my last two weeks of business travel, not one question had been asked about that. That is just not part of the focus on retirement and long-term investors.” The CEO added:

“We see very little in terms of investor demand on those types of things. But, quite frankly, they may not come to Blackrock for those types of demand.”

While the Blackrock CEO has repeatedly said that his asset management firm does not see demand for cryptocurrencies among its clients, he is not bearish on the future prospects of cryptocurrency.

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