- Financial analysts say crypto will be all asset classes.
- Balajis.com said, people mistake was thinking of the internet as a new channel.
- Larry Fink also believes that crypto could become a great asset class.
Recently, on a Twitter post of a financial analyst Balajis.com says,
A mistake people made early on was thinking of the internet as a new channel: radio, TV, and internet.— balajis.com (@balajis) April 23, 2021
In reality it was *all* channels: internet radio, internet TV…
Same with crypto. It’s not an “asset class”. It will be all asset classes.
“A mistake people made early on was thinking of the internet as a new channel: radio, TV, and the internet. In reality, it was *all* channels: internet radio, internet TV. Same with crypto, it’s not an “asset class.” It will be all asset classes.”
Also added on the post:
“that’s what programmable information meant. All forms of information were turned into packets and sent on the internet. That’s what programmable money means: all forms of scarcity are turned into distributed ledger entries and manipulated on-chain.”
That Twitter post got a positive response.
On the other hand, Last week, Larry Fink, Co-Founder, Chairman, and CEO of BlackRock, the world’s biggest asset manager, said during a conference that crypto “could become a great asset class.”
During an interview on April 15 with CNBC’s Squawk Box, Fink made his comment.
Fink believes in crypto, and he is excited about it. I’m inspired by how many people are focusing on it. The story encourages me that it may fit a significant asset class. And I do consider this could shift a great asset class.“
However, he does not believe crypto will replace fiat currencies. “I don’t think it’s a substitute for cash. I believe we’re going to have cryptocurrencies of dollars, cryptocurrencies of other currencies. But I don’t think we should think about crypto as a substitute for currency. But I’m excited by it as an asset class.“