Bitcoin and crypto prices have been rocked by U.S. president Donald Trump’s chaotic global trade war—forcing Michael Saylor’s Strategy into a shock bitcoin “sell” warning.
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The bitcoin price has bounced back over $80,000 per bitcoin, though well down from a January peak of almost $110,000 that’s seen $1.3 trillion wiped from the price of ethereum, XRP and the combined crypto market as fears of a looming “crisis scenario” swirl.
Now, after Treasury secretary Scott Bessent issues a surprise bitcoin prediction, the BlackRock-powered, crypto-based tokenisation of assets has been forecast to grow “exponentially” from $600 billion to $19 trillion by 2033.
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BlackRock, the world’s largest asset manager has led the push for tokenisation on Wall Street, … More
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“For financial institutions, tokenisation is no longer a side project. It is increasingly emerging as a strategic path and a likely next step in the evolution of finance,” the report, written by analysts with XRP developer Ripple and global management consulting company Boston Consulting Group and titled “Approaching the tokenisation tipping point,” read.
Wall Street giants, led by the world’s largest asset manager BlackRock, have embraced tokenisation in recent years.
“Global adoption is poised to grow exponentially,” Yue Hong Zhang, managing director and partner at BCG Hong Kong, wrote in the report.
“With the recent growth of real-world assets, people outside the crypto industry are increasingly asking about the potential of tokenised assets to address historically under-penetrated segments.”
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The bitcoin price has shot higher over the last year, helped by the support of BlackRock and other … More
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BlackRock, which manages over $10 trillion globally on behalf of clients, led the campaign last year to bring a fully-fledged spot bitcoin ETF to the U.S., winning approval for its IBIT and a fleet of other spot bitcoin ETFs in January.
In July, BlackRock’s chief executive Larry Fink said he had been “wrong” about bitcoin when he’d previously dismissed it as “an index of money laundering,” admitting bitcoin is “digital gold” and a “legitimate” financial instrument.
The arrival of a fleet of spot bitcoin ETFs on Wall Street was the first step in what Fink branded a digital “revolution” when he revealed his crypto ambitions for BlackRock in 2023—which includes a radical new, blockchain-based alternative to the U.S. dollar.
Fink said he believes the crypto-based tokenisation of assets on blockchains will revolutionize Wall Street, as everything—from stock markets, pre-IPO stocks, hedge funds, infrastructure projects, commodities, alternate investment instruments and private credit—becomes tokenised.
“At BlackRock, we believe that tokenisation has the potential to drive a significant transformation in capital markets infrastructure,” BlackRock’s global head of strategic ecosystem partnerships Joseph Chalom told Fortune last year.
