Larry Fink, CEO of the asset manager Blackrock, sees the youngest crypto crash as a “chance of buying”, although the markets may still by 20 % could continue. At an event in Economic Club of New York he explained that the correction on the stock and Cryptoma markets is not over yet.
Blackrock CEO predicts further decline
Fink expects the Federal Reserve that the Federal Reserve will initially no interest rate reduction due to the persistently high inflation rate in the USA and the negative market environment. He warns of further price losses and emphasizes that uncertainty dominates the markets. The latest Bitcoin correction led to the worst quarter of the decade.
Despite the negative mood, Fink does not see the market correction as a threat to the global economy. Rather, he speaks of an opportunity for investors to acquire cryptocurrencies at affordable prices:
“For me, this is more of a purchase than a time of sale, even if another decline is possible.”
BTC as a risk of the US dollar?
Blackrock manages a fortune of around $ 11.5 trillion and runs the largest Bitcoin spot ETF in the USA. Fink recently expressed concerns that Bitcoin could weaken the position of the US dollar as a world currency. If US debt is out of control, digital assets such as Bitcoin are regarded as a “safer alternative”.
“If investors consider Bitcoin to be safer than the dollar, the economic supremacy of the USA could suffer.”
Although Fink recognizes the risks, he is not an opponent of digital currencies:
“Decentralized finances are an extraordinary innovation – faster, cheaper and more transparent. Nevertheless, this development could endanger the economic management position of the United States.”
Market blood bath according to Trump’s trade policy
The financial markets have experienced significant losses in the past few days. The S&P 500 lost over 10 %within three days, the strongest downward movement since Corona Pandemie 2020. Cryptocurrencies also suffered: Bitcoin fell below the 75,000 brand, while old coins like Ethereum (ETH)Ripple (XRP) and Solana (Sol) lost over 20 %.
The increased import duties of the US government, which come into force on April 9, reinforce uncertainty. Since affected countries such as China prepare countermeasures, the trade voltage is far from overcome. Despite the careful recreational approaches, the situation remains tense – even if Fink sees the situation as an opportunity.