BlackRock CEO: Bitcoin and the crypto market will be more stable after leverage flushes out

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ME News, July 16 (UTC+8). Larry Fink, CEO of BlackRock, the world’s largest asset manager, said he is optimistic about the market over the next 12 months, and that the technological revolution will drive more companies to improve profit margins. He said BlackRock’s profit margin rose by 260 basis points over the past 12 months and added $1 trillion in assets without increasing headcount. Larry Fink said the current market leverage level is lower than in 2008 and 2009, and that implied leverage is not high when measured against the current size of the capital markets. He also said that some concentration risks may still exist in certain assets, financial products, or international markets. Larry Fink said he has long been concerned about leverage in the Bitcoin and crypto markets, where there had previously been too many leverage participants. He believes that after leverage clears, the Bitcoin and crypto markets will be more stable at the current levels. (Source: ODAILY)
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