The CEO of asset management company BlackRock said their clients do not use cryptocurrencies for long-term and retirement savings.
interview Larry Fink stressed on CNBC that BlackRock customers have shown little interest in cryptoassets. The fact is that mainly large investors work with the company, for whom the safety of investments is more important than their profitability. BlackRock customers are planning investments for decades ahead, and cryptocurrencies have not yet fit into this thinking.
BlackRock CEO believes that financially literate people consider long-term investments:
“If we could improve financial literacy, help people move away from short-term speculation in the stock market, focus on transforming their portfolio into a long-term investment portfolio. Then the question of pension savings would become much easier. However, the new generation is more inclined to speculation. ”
In May of this year, Larry Fink revealed that BlackRock is interested in Bitcoin and investing in it, but is not yet ready to invest. Now the company is studying the cryptocurrency market, as it is extremely volatile for large investors.