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."

CBDC critics' concerns about privacy and security certainly need to be addressed in order to protect financial transactions from government surveillance. At the same time, many analysts warn that if the United States fails to create a state-issued digital fiat currency, it will undermine the status of the U.S. dollar as the world's reserve currency and the nation's role in global finance and trade.