On January 12, in an interview on CNBC's Squawk Box, BlackRock chairman and CEO Larry Fink made a bold statement about the future of money in the United States: He predicted that the country will adopt a digital currency using blockchain technology. This comment reinforced his support for a federally backed central bank digital currency (CBDC), which he originally expressed in a 2022 letter to BlackRock shareholders.
Fink's comment went largely unnoticed, as it was overshadowed by discussions of BlackRock's $12.5 billion acquisition of Global Infrastructure Partners and the desirability of infrastructure investments. Still, it reflects growing acceptance of the idea of a digital dollar, despite slow progress and fierce resistance from sources including former President Trump, who has said a CBDC would give the federal government "absolute control over your money."
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
