BlackRock: A 1% Crypto Allocation in Asia Could Bring $2 Trillion Inflows

BlackRock executive Nicholas Peach said at Consensus Hong Kong that a modest 1% allocation to crypto in Asian portfolios could generate nearly $2 trillion in new capital inflows, given the region's $108 trillion in household wealth. BlackRock's CEO Larry Fink has shifted from a Bitcoin critic to acknowledging its potential as a hedge, while warning of volatility. Bitcoin has fallen 30% from its $100,000 all-time high to around $68,000, with technical indicators suggesting a range-bound period ahead.