Why Are Investors Turning to Crypto and Gold?
Investments Driven by Fear
Larry Fink, the head of BlackRock, recently shared his insights on why people are investing in crypto and gold. He believes that these investments are primarily driven by fear. People are concerned about the devaluation of their money, leading them to seek security in these assets. These remarks were made at a major investment conference in Saudi Arabia.
Concerns About the US Economy
Fink also discussed the US economy, highlighting its heavy reliance on selling dollars to other countries. This dependency is a significant concern, as any changes could have a profound impact on the economy. He emphasized the need for the US to find new ways to attract investment.
Global Shift in Finance
Meanwhile, central banks worldwide are increasing their gold reserves. Fink views this as a major shift in global finance. He noted that central banks are worried about the future of money and how technology will transform it. He predicts that all financial assets will be tokenized soon, and many countries are not prepared for this change.
BlackRock's Bitcoin Holdings
Interestingly, BlackRock is one of the largest holders of Bitcoin, but only for its clients. As of October 27, they held approximately 805,806 BTC. While this is a substantial amount, it's crucial to note that it does not represent their own investment.
