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BlackRock, Worldcoin, Ripple: Bitcoin Bull Mike Novogratz Dishes on Crypto

30Jul

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Technology

BlackRock, Worldcoin, Ripple: Bitcoin Bull Mike Novogratz Dishes on Crypto

[ad_1] As Bitcoin roars back after a year of crypto industry scandals and losses, Mike Novogratz says one man in particular gives him reason to stay bullish.“The most important thing that happened this year in Bitcoin is Larry Fink,” Novogratz said, referring to the investment titan who is chief executive officer at BlackRock Inc., the world's biggest asset manager. BlackRock thrilled the crypto community in June when it applied to launch an exchange-traded fund to track the spot price of Bitcoin — a move that, if approved, could potentially spark a new wave of investment in the cryptocurrency. But it was Fink's seeming conversion from crypto skeptic to Bitcoin believer — he now considers it an “international asset” — that really has Novogratz excited. “He got ‘orange-pilled,' as we say...

Larry Fink Says AI Could Be the Technology That Curbs Inflation

[ad_1] BlackRock Inc. Chief Executive Officer Larry Fink said artificial intelligence has tremendous potential to boost productivity and may ultimately be the technology that can tamp down inflation.The collapse of productivity has been a key issue within global economies and a major “reason why we have such sticky inflation,” he said Wednesday at the BlackRock Investor Day. Fink said AI “may be the technology that can bring down the inflation.” The CEO of the world's largest asset manager said AI could have “some very large outcomes for long-term investing” and could also transform margins across sectors. With AI, Fink said, BlackRock will have the “same healthy paranoia, the same healthy enthusiasm,” that it brings to its other businesses. Fink and other senior executives laid out a v...

Crypto Stocks Teeter Near Abyss as Fink’s Warning Adds to Angst

[ad_1] Analysts and investors are struggling to call a bottom in crypto stocks in the wake of a brutal month that ended with the head of BlackRock Inc. saying most digital-asset firms won’t survive. Analysts and investors are struggling to call a bottom in crypto stocks in the wake of a brutal month that ended with the head of BlackRock Inc. saying most digital-asset firms won't survive. Cryptocurrency firms including Coinbase Global Inc., Galaxy Digital Holdings Ltd. and MicroStrategy Inc. all plunged more than 25% last month. The declines added to the pain of a dismal year amid a deep and extended plunge in Bitcoin and other digital tokens. While that trio of firms rallied this week, they've still wiped out roughly $52 billion of shareholder value in 2022. Already reeling from ...