How did BlackRock CEO comment on BTC in the latest conference call?

During BlackRock’s third-quarter earnings call, CEO Larry Fink expressed strong support for BTC and digital assets.

Fink not only emphasized that BTC is an independent asset class, but also compared it to historical financial markets, such as mortgages and high-yield bonds, which are currently worth $11 trillion.

Fink made it clear: "We believe that BTC is an asset class in its own right, and it is an alternative to other commodities such as gold."

Fink also revealed that BlackRock is actively engaging with global institutions on digital asset allocation. "We are in dialogue with global institutions about how they should view digital assets and what type of asset allocation they should make."

Fink emphasized the inevitability of digital assets becoming a global reality: "I do believe that the use of digital assets will become more and more popular around the world."

Fink compares digital assets to the early mortgage and high-yield markets, believing that the trajectory of digital assets' development and acceptance by the public is similar to that of the early mortgage and high-yield markets.

“When we started the mortgage market many years ago, or when the high-yield market emerged, they started very slowly,” Fink added.

“But through relevant analysis and data, we found that they were being accepted and recognized over time. In the same way, we will see the market for digital assets continue to expand.”

Contrary to the common belief that regulation is the main obstacle to the adoption of digital assets, Fink believes that other factors are more critical.

“I don’t believe it’s a question of more or less regulation, the adoption of digital assets is a function of liquidity and transparency,” he asserted.

Fink also highlighted the potential of blockchain technology and artificial intelligence in the digital asset market.

"We believe that these blockchain technologies will become very valuable, and with the help of artificial intelligence, the digital currency market will have better data analysis capabilities and expand the applicability of the market."

In addition to BTC, Fink also specifically mentioned Ethereum, pointing out its ability to grow significantly: "I think the scope of application of this form of investment will expand, and the role of Ethereum as a blockchain can grow significantly."

When talking about the digitization of national currencies, Fink distinguished between digital assets such as BTC and central bank digital currencies (CBDCs).

"How does each country view its own digital currency? This is a completely different asset from BTC itself. We have seen India and Brazil have achieved great success in digitizing their own currencies for a variety of different reasons."

When talking about the potential impact of the US presidential election on BTC and the entire Crypto asset market, Fink was dismissive of any major impact.

He commented: “I’m not sure the president or other candidates will have an impact.”

Fink believes other market forces are the main drivers of BTC adoption.