On January 12, in an interview on CNBC's Squawk Box, BlackRock chairman and CEO Larry Fink made a bold statement about the future of money in the United States: He predicted that the country will adopt a digital currency using blockchain technology. This comment reinforced his support for a federally backed central bank digital currency (CBDC), which he originally expressed in a 2022 letter to BlackRock shareholders.
Fink's comment went largely unnoticed, as it was overshadowed by discussions of BlackRock's $12.5 billion acquisition of Global Infrastructure Partners and the desirability of infrastructure investments. Still, it reflects growing acceptance of the idea of a digital dollar, despite slow progress and fierce resistance from sources including former President Trump, who has said a CBDC would give the federal government "absolute control over your money."
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