BlackRock CEO Larry Fink calls for tokenized stocks and bonds 

BlackRock CEO Larry Fink appeared on CNBC’s Squawk Box from the sidelines of the World Economic Forum in Davos, discussing topics including blockchain, regulatory challenges and the global economy.

Snitch recommended For Securities Commission To endorse the tokenization of bonds and stocks, suggesting it could streamline ownership and reduce costs by providing direct notifications to investors.

“If we can tokenize bonds and stocks…it will democratize investing in ways we can’t imagine,” he said.

Fink also addressed the complexity of proxy voting under SEC Chairman Gary Gensler’s mandate, describing it as “open warfare” for CEOs. He called for a review of the system to simplify corporate governance and reduce costs.

On environmental, social and governance policies, Fink responded to criticism from shareholder activists and legal challenges. He stressed the importance of remaining authentic and customer-focused, despite political pressures.

BlackRock’s recent success in raising $641 billion, primarily from U.S. clients, underscores this approach.

Bitcoin at $700,000?

Snitch suggested earlier At Davos, Bitcoin’s price could rise to $700,000 if sovereign wealth funds allocated 2% to 5% of their portfolios to the cryptocurrency.

Speaking at the World Economic Forum, Fink described Bitcoin as a tool to address concerns about currency collapse and political instability.

“If you are afraid of debasement or local political instability, you have an international instrument called Bitcoin to overcome those fears,” Fink said. “We could see $500,000, $600,000, $700,000 per bitcoin.”

However, Fink clarified that he was not promoting bitcoin, instead highlighting its volatility. He pointed out that even during bull markets, Bitcoin has seen significant price corrections.