The position of the international mega-fund BlackRock on bitcoin remains unclear. You may suddenly think of him as anti-fiat and cryptocurrency advocates. Indeed, BlackRock was preparing to invest in the long term in bitcoins and cryptocurrencies, but its leader criticizes cryptocurrency enthusiasts for fiat currencies of the United States.
Predicting and onset of hyperinflation
We remind you that on May 23 Fink said he was studying cryptocurrency Bitcoin, for example, to determine if an asset class might offer countercyclical benefits.
Fink also said at his annual meeting:
“The company is tracking the evolution of cryptoassets. We look at what this means, the infrastructure, the regulatory framework. “
In contrast, during a virtual conference hosted by Deutsche Bank, according to ZeroHedge, the CEO of BlackRock, Larry Fink, was talking aboutinflation… He also mentioned that crypto volatility does not allow BlackRock, which is a long-term investor, to serve as an investment.
The President is actually addressing strong inflation like in the 70s and abandonment of the gold standard President Nixon a year later. What influenced the consumer price + 14.8% in March 1980 proving inflation growth… This indicates that a new period of inflation will begin. real shock for traditional bankers and economists.
Although inflation consumer price is reasonable currently she is still the same anxious when we look at wage inflation in the United States. Epsilon Theory explained that wage inflation rose by + 7.7% in the first quarter of 2020 and in 2021.
It should be noted that over 30 yearsUS wage inflation never exceeded five% (an increase of 4.8% in the fourth quarter of 1997). And this despite the fact that some will try to calm themselves.
However, the current mantra denotingtemporary inflation The Fed or the US Federal Reserve sounds like the “subprime will be held back” mantra. The last one that produced led to economic crisis of 2008 which indirectly prompted Satoshi Nakamoto create Bitcoin…
Short, inflation does not threaten us, it already exists and is establishedmoreover, its possible role in future major economic crises remains controversial. After 2008, the prices of safe haven assets such as gold have skyrocketed. What will happen to Bitcoin in the next crisis? In any case, most BlackRock executives recently stated that they believe the king of cryptocurrencies is lasting asset…