Fink of BlackRock Sees Bitcoin as ‘Global Market’ Asset

news coming from Shaurya Malwa via Decrypt

BlackRock, the world’s largest fund manager with $7.2 trillion in assets, caters to family offices, retail investors, fund managers, and pension funds. And while it has yet to dip its toes in the crypto market, some of the firm’s top executives have previously spoken positively about cryptocurrencies.

The upside predictions are not humble either. Just last month, BlackRock CIO Rick Rieder went as far as stating that Bitcoin could replace gold and was “here to stay,” adding the asset showed incredible staying power and was generally well received by millennials, as opposed to the yellow metal.

Larry Fink, CEO of asset management firm BlackRock, said in a speech at the nonprofit body Council of Foreign Relations earlier this week that Bitcoin had “caught the attention and imagination of many people” and was poised to grow as an asset class.

Mentioned during episode. 👇

The Herd is Still Coming in 2021

news coming from Frank Chaparro via The Block

Lookout 👀Stablecoin Bill entered into Congress

news coming from Jeff Benson via Decrypt, Naomi Brockwell of NBTV

Three members of Congress have proposed a bill to regulate stablecoins.

The STABLE Act would hold stablecoin issuers to some of the same standards as banks.

Some cryptocurrency advocates think it will stifle innovation and further marginalize underbanked communities.

It's the dying days of the 116th Congress, which ends on January 3, 2021. Any bills that haven't become law by then will die with it.

But that's still plenty of time to kick the hornet's nest that is Crypto Twitter!

Today, Congresswoman Rashida Tlaib announced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, which is co-sponsored by Representative Jesús “Chuy” García and Representative Stephen Lynch.