One of the worst things you can do in investing is listen to other people speak about a specific asset or asset class when really, they are not credible to speak about that specific thing. Now, how can you avoid making terrible decisions because you listen to the wrong party or people? Well, you look at what the smart money is doing. What are the really large institutions with massive swabs of capital doing with their time, energy, effort, and most importantly, the resources?
Well, in this video, I’m going to share with you the largest asset manager, BlackRock, that just had a recent interview and talked about the FTX collapse and ultimately what they see for this asset class. Now, I will remind you they just partnered with Coinbase about six months ago to release Bitcoin trading to their institutional clients, which was their first leg into the crypto and blockchain industry. And now, their CEO, Larry Fink, just recently said, “Has this changed your view of crypto at all? You now have a deal with Coinbase and yet you were always sort of also I think a bit of a skeptic of all this.”
Oh, I actually believe most of the companies are not going to be around. I still believe that. I do believe, because, because they’re now real, they’re “frogs,” they’re what. Well, I mean let’s think about FTX. I mean, you could look back now FTX created it, its failure was it’s creating its own token. It was not a DEFI, it wasn’t a ledger that was open to the world, it was like a pleasure, right? It was not distributed. So, the whole foundation of what crypto is, it’s supposed to be a distributed ledger that is across the system.
I actually believe this technology is going to be very important. I am. I, you know, look at it. We have been part of the huge revolution in investing through ETFs. We believe that ETFs will be changing the whole way we invest. Many people still use it as a means. Well, people are investing it for indexing, no, the majority of people are putting money in an index in an ETF or active investors that are buying exposure. The entire bond market is being transformed as we talk right now.
I believe the Next Generation for markets, the Next Generation for securities, will be the tokenization of securities. We will, and if we could have that distributed ledger that we know every beneficial owner, every beneficial seller, we all have our code of who’s buying, who’s selling, instantaneous settlement. And think about it, it changes the whole ecosystem. You don’t need Trust Banks, but does that disrupt you eventually, because you are a custodian of all this? We don’t know. We’re not custodians. We’re not that. We use third-party custodians in everything we do…
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