TradFi shifts perspectives on crypto assets

Recently, Larry Fink, the CEO of BlackRock asset management fund, <a href="https://www.cnbc.com/2023/07/14/blackrock-has-a-responsibility-to-democratize-investing-including-in-crypto-larry-fink-says.html" rel="noopener ugc nofollow" target="_blank">talked</a> about crypto in an interview on CNBC. He said that crypto “has a differentiating value versus other asset classes, but more importantly, because it’s so international, it’s going to transcend any one currency.” BlackRock is now the world’s largest asset management fund, with over $9 trillion in assets. Fink himself was a crypto and Bitcoin skeptic as recently as 2017 when he was <a href="https://www.coindesk.com/consensus-magazine/2023/07/07/thank-blackrocks-clients-for-larry-finks-change-of-heart/#:~:text=2017%20that%20Bitcoin%20was%20an,hedges%20and%20geopolitical%20risk%20hedges." rel="noopener ugc nofollow" target="_blank">quoted</a> as saying that Bitcoin was simply an “index for money laundering.” He was insinuating that the more people who wanted to launder money (they would use Bitcoin), the more the price would shoot up. But fast forward to mid-2023 and he and others in TradFi are now singing a different tune. Not only that, but he sees crypto’s potential to democratize investing. Right now, in this age of artificial intelligence, we still have rules where only accredited investors with several hundred thousand dollars are allowed to invest in certain asset classes for their protection. <a href="https://medium.com/@zainjaffer-official/tradfi-shifts-perspectives-on-crypto-assets-3ee670557165">Read More</a>