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Black Rock CEO: There is little demand for digital currencies from long-term investors


The CEO of BlackRock says that investors’ demand for bitcoins and digital currencies has fallen sharply recently. He said long-term investors and retirees have little interest in digital currencies.

to the the report Coin Telegraph: Larry Fink, CEO of Black Rock, an asset management company that also indirectly invests in Bitcoin, believes that we are seeing a significant decline in investor demand for digital currencies.

Speaking on CNBC’s Squawk Box program on Wednesday, Fink said that Black Rock has recently seen a decline in inquiries and questions from investors about digital currencies, indicating a sharp drop in demand for investment in the field.

Fink also noted that, in particular, long-term investors and retirees are now less interested in digital currencies.

Fink said:

In the past, people often asked me about bitcoin and other digital currencies. But during my travels in the last two weeks, I have not been asked any questions about this. This is not just for long-term, retired investors. We see very little demand from investors.

Fink’s remarks come as limited fluctuations in the digital currency market continue, with Bitcoin losing more than 16 percent of its value over the past 30 days. At the time of writing, Bitcoin is trading at $ 32,600, up about 2.13 percent in the last 24 hours. Since Bitcoin reached its all-time high of $ 64,000 in mid-April, it has lost almost half of its value.

Black Rock CEO: There is little demand for digital currencies from long-term investors
Bitcoin price chart

Black Rock is known for its friendly bitcoin stance. The company has also invested in bitcoin through its stake in Microstrategy. In 2020, Micro-Strategy bought $ 425 million worth of bitcoins for the first time and further increased its investment.

Black Rock CEO has previously commented positively on Bitcoin. Larry Fink claimed in December last year (Bitcoin) that although Bitcoin has not been widely tested, it has the potential to become a global market.

Contrary to Black Rock CEO’s claims that long-term investors ‘demand for bitcoin is declining, institutional investors’ interest in digital currencies appears to be growing. Last week, Bank of America, the second largest US bank, set up a digital currency research team in response to growing institutional investor interest in digital currencies.

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