War in Ukraine positive for cryptos
The war in Ukraine is terrible, but can have a positive effect on cryptos.
Russia has attacked the country anyway. For a long time they insisted that they were only practicing along the border. The attack has serious consequences for Ukraine itself, but we are also noticing it worldwide. The inhabitants of Ukraine are therefore looking for alternatives to pay and the digital coins are popular in this.
War positive for cryptos
The adoption of cryptos could be accelerated by the war. So says the CEO of BlackRock. This is the largest asset manager in the world. The CEO is called Larry Fink and writes this in a letter to the shareholders of the company. The investors in BlackRock are increasingly interested in the digital currencies than before. In addition, he says that because of the war, countries are better looking ‘on which currencies they depend’. Cryptos can play an important role in this.
Remarkably, the CEO does not mention the digital currencies. Crypto and Bitcoin, for example, are mentioned zero times. However, stablecoins and the digital dollar. That’s not saying much, these kinds of companies use their own way of writing. It does mean that BlackRock also sees a future where cryptos will play a bigger role. And especially the projects that are not yet there, such as Central Bank Digital Currencies.
Future
The letter even pays attention to how a ‘global, carefully designed digital payment system’ can be set up. This aims to improve international transactions and prevent money laundering. It appears that the company will also start offering cryptos to customers to use as collateral for loans.
