BlackRock CEO Larry Fink gave an important interview to CNBC. He commented on the current state of the crypto market and the race for artificial intelligence. Fink separately highlighted the issue of leverage in cryptocurrencies. He has always been concerned about excessive leverage in bitcoin and other digital assets. There were too many players with high leverage in the market. That is why the market has been cleared, the expert believes. Fink is confident that there is more stability at current levels. However, he does not see much hidden leverage in today's capital markets. The situation is not comparable to the crisis of 2008-2009.

Fink believes that one trillion dollars in capital expenditures from six large technology companies is not enough. The demand for computing is not slowing down, but continues to grow even faster. The biggest concern of industry players is that supply does not keep up with demand. This is reflected in the stock price of memory manufacturers. BlackRock itself is a major investor in data centers. In the last quarter, the company contracted almost 1 GW of electricity in Pennsylvania. Another large data center in another state is also being funded. Fink announced the introduction of new financial instruments for investors. We will get markets for investing in computing power. There will be a futures market for computing. This will be the next revolution in finance.

Fink's key concern is the ability of society to benefit from artificial intelligence. Computing is now very expensive for small and medium-sized businesses. It is difficult for them to compete with the tech giants in this market. Previously, BlackRock had already named the optimal share of bitcoin in the investment portfolio.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.