BlackRock CEO: Bitcoin and the crypto market will be more stable after the leverage is cleared

Larry Fink, CEO of the world's largest asset management company BlackRock, stated that he is optimistic about the market in the next 12 months, as the technological revolution will drive improvements in profit margins for more companies. He noted that BlackRock's profit margin has increased by 260 basis points over the past 12 months, and the company has added $1 trillion in assets without increasing its workforce.

Larry Fink mentioned that the current market leverage level is lower than in 2008 and 2009, and the implied leverage is not high when measured against the current capital market size. He also indicated that some assets, financial products, or international markets may still carry concentration risks. Larry Fink expressed that he had previously been concerned about leverage in the Bitcoin and cryptocurrency markets, as there were too many leveraged participants in the market. He believes that after the leverage has been cleared, Bitcoin and the cryptocurrency market are more stable at current levels.