no doubt use their power and money to gain *even more* power and money.
As the CEO of the world’s largest asset manager, BlackRock, Larry Fink knows how to use money, power, and influence to gain even more money, power, and influence – and he isn’t afraid to talk about it. In 2017, Fink declared that “you have to force behaviors, which is exactly what we are doing at BlackRock”. This statement came from an ESG CEI meeting, where the ESG is used by giant corporations and financial behemoths to control the investment and flow of money by other companies, governments, and regular people into whatever they want by means of an ESG score determined by them.
It’s no surprise, then, that BlackRock – with its 9 trillion of assets under management – is taking a big step into the crypto space. As a sign of how much power the company wields, its 575-1 ETF approval rate means that their ETF is likely to be approved, giving them a first mover advantage in the crypto market. But it’s not just about the money – BlackRock is also using its influence to gain even more money, power, and influence. With their entry into the crypto space, the asset giant is set to rake in money from big institutional investors looking for simple crypto exposure. And of course, BlackRock’s power and influence will only grow as a result.
At the end of the day, it’s important to remember that powerful companies like BlackRock – ones that wield enormous amounts of money, power and influence – often use that power to their own benefit, often at the expense of regular people. Larry Fink’s statement, and the company’s actions in the crypto space, only serve to reinforce this.