贝莱德CEO看涨比特币以太坊，称杠杆已出清

I'm very bullish on the markets over the next 12 months.

CEO of BlackRock, Larry Fink, is bullish on markets over the next 12 months, including being bullish on Bitcoin, Ethereum, and crypto. On CNBC earlier today, he brought up crypto himself, saying there is too much leverage in crypto. Now it has been flushed out. There's more stability at these levels, and over the next 12 months, he's bullish. Smash the like button. Listen.

There is no question, as I said it in earlier times that I was here, I was always worried about the leverage in in Bitcoin and crypto. There was too much leverage players in it. That's why we had the wash out, and I think there's more stability at these levels here. But, um no, I I we don't see that much implicit leverage. For the scale of the capital markets today, the leverage is not as large. I mean, that That doesn't mean there's not pockets.

Uh but, no, I I I as I said in my prepared remarks this morning, I'm very bullish on the markets over the next 12 months. I think the technological revolution is going to power uh better margins for more companies. I mean, think about BlackRock. We've raised Our margins increased by 260 basis points over the last 12 months. A lot of it is using more and more technology.

So, BlackRock is bullish, and they recently outlined their vision for crypto and traditional finance converging. So, understand that BlackRock isn't only bullish on the underlying investable assets, they are in it for the technology as well, as BlackRock's CFO confirmed, they want it, so investors never need to leave digital wallets to allocate efficiently across crypto, stablecoins, and exposure to long-term stocks and bonds.

BlackRock also seeks to eventually offer tokenized long-term investments like Treasury funds, iShares ETFs, and even private markets. And they have reiterated that crypto and tokenization are a pure organic growth opportunity for them. We always knew this was Larry Fink's plan, and it's interesting to see him still being bullish at the lows. But he's been bullish on tokenization and Ethereum, tokenizing the world via Ethereum for quite some time.

I see value in having an Ethereum ETF. As I said, these are just start stepping stones towards tokenization.

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And I I really do believe this is where we're going to be going. We have the technology to tokenize today. If you want to talk about Think about this. If you had a tokenized a security and you have a tokenized identity, you, Andrew, the moment you buy or sell an instrument, it is known. It's on a general ledger that is all created together. Um you want to talk about issues around money laundering and all that. This eliminates all corruption by having a tokenized system.

And we're seeing a lot of competition in this space during the bear market preparing for the next bull market. Just in, Morgan Stanley has filed for spot Ethereum and spot Solana ETFs. They have just set their fees very competitive with BlackRock. The only reason we get the opportunity to see this is because they have to do these public disclosures as they're gearing up for launch. And what you should be taking away from this as just as everyone thinks the exact opposite is the case, we see, "Oh, crypto really isn't going away.

Crypto is here to stay for years, decades." Prediction markets are showing a 50/50 chance clarity passes this year. Yet less than 25 days left as the clock continues to tick, the Senate must clear clarity before they go into summer recess. Clarity Act has until August 7th. Do you think Clarity Act passes or doesn't pass this year? There really seems to be three major disputes holding it back at this point. Stablecoin yield, developer liability, and ethics {slash} insider trading.

With three Democratic senators threatening to block the bill unless new ethics rules stop public officials from personally profiting from crypto. I think that's something we can all get behind. It seems like it is a big hold up. Trump insisting that all of his crypto profits were made before he took office and he has divested the ones his sons are doing. Anyways, Trump will be meeting with US senators tomorrow to discuss the Clarity Act.

This is a day before Friday's hearing where we will see some of crypto's best and brightest minds come before Congress once again to articulate why the US needs to support the industry, why clarity needs to be passed.

Can you quickly explain how important it is for America to take the lead here, especially as we see China leaping ahead?

Uh Yes, sir. We believe that the United States should be the premier destination for digital assets and as members of this committee the and the Senate are attempting to do, create good market structure around that so that US best practices are used around the world.

And that's really the point, right? Is having American US best practices to sort of set the pace for others to follow rather than us trying to fill in the holes that others that may be created by as others set that pace.

Uh

[clears throat]

Yes, sir. And also, that digital assets are important source of innovation that can drive usage of the US dollar around the world as with stablecoin legislation. There is speculation that there may be up to $2 trillion of demand over the next few years for US government securities from digital assets.

And just so we're clear, just so we're clear, although I hope clarity does pass, if clarity does not pass, we fall back to agency rulemaking, which will be good enough for now. You know, the SEC making rules, which they're making great rules. The CFTC making rules, they're making great rules. The Fed, etc., etc. It will be difficult to unwind those rules. The law, the Clarity Act, would simply codify them, but the thing is, they can literally be codified much later.

So, we want it to pass, it might not pass, wouldn't be the end of the world. A lot of reason to be bullish. Ethereum staking ratio hits 33.7. Over one out of every three ETH is off the market. Circulating supply is shrinking every day. Ethereum's ecosystem is booming as Robinhood Chain, which is an Ethereum layer two, surges from 3 million TVL to 3 23 million TVL in just two weeks with the top protocols being Robinhood app, but also tons of the dapp blue chips in the Ethereum ecosystem.

Morpho and Ethana and Uniswap and Curve etc., etc. This is booming and growing and taking a look at the current state of the crypto market outside of Bitcoin, Ethereum is booming and growing as so much is built on top of Ethereum. And while just a few years ago it was zero, now we have $30 billion dollars of tokenized assets already on chain. That number is forecasted to grow by 100 x over the next four to five years.

There really is a lot of reason to be bullish on the blue chips and be bullish on this space and be confident that a bull market will come back to this space again, especially as the world continues to put pressure on the United States. Breaking, Japan has officially passed a bill to legalize Bitcoin and crypto and they're now on a path to reduce crypto taxes from 55 to 20%. The world's fourth largest economy is getting big on crypto and that is just the start.

South Korea just made crypto part of its national assets. South Korea just made crypto and crypto financial products legal. And so with Bitcoin up, yet down at just under $65,000 at time of recording today, there's a lot of reason to think that the bottom is in. Take a look at this metric, an enormous amount of old Bitcoin came online and moved on chain in 24 and 25 rivaling that of only 2017. This great distribution is mostly over in 2026 is on pace to see less than half the amount of awaken coins as last year.

With fear in the air, governments around the world are happy to buy crypto cheap. Coinbase's head of institutional investing, John D'Agostino, explains.

saying blockchain and cryptocurrency to solve the problem of deep fakes of the artificia

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