BlackRock, the world’s largest asset manager, says artificial intelligence and stablecoins are rapidly becoming the dominant macroeconomic forces, poised to fundamentally reshape global economic growth and challenge traditional banking structures.
The firm’s “2026 Global Outlook: Pushing limits” report, published by the BlackRock Investment Institute (BII), identifies AI as the primary engine transforming the global economy. BlackRock projects that cumulative global investment in AI infrastructure could reach between $5 trillion and $8 trillion by 2030.
This substantial capital injection could lead to unprecedented U.S. gross domestic product (GDP) growth, potentially exceeding its long-term 2% trend. BII analysts stated AI can “innovate the process of innovation” itself, validating its tangible economic impact. Investments in AI hardware are considered BlackRock’s top “pro-risk” bet.
The report also highlights stablecoins as a critical link in the tokenization of the traditional financial system. Stablecoins are “no longer a niche,” but are becoming “the bridge between traditional finance and digital liquidity,” according to Samara Cohen, BlackRock’s Global Head of Market Development.
The market value of stablecoins has surpassed $300 billion, with their utility expanding beyond cryptocurrency trading to include settlements and transfers. The establishment of a regulatory framework in the United States for stablecoins has elevated their status, making them a serious player in the financial landscape. This growth could significantly impact how banks extend credit to the economy, potentially leading to a restructuring of financial intermediation models.
BlackRock’s outlook also addresses the issue of unsustainable global leverage. This is driven by the need to fund AI infrastructure and by high U.S. public deficits. The BII anticipates investors will demand a higher premium for holding long-term Treasury bonds, leading BlackRock to tactically underweight these bonds in its portfolios. The U.S. federal debt is expected to exceed $38 trillion.
While the report does not directly mention Bitcoin, it implicitly suggests a growing need for “idiosyncratic” and uncorrelated assets. This comes as the security and returns of traditional safe havens like long-term fixed income are being questioned. The cryptocurrency community interprets this as further justification for Bitcoin’s role as a digital scarcity asset and a store of value.
Financial news outlet CoinDesk noted that AI-driven leverage and public debt might make the financial system more fragile. This could compel institutions to turn to alternative assets like Bitcoin as a hedge against fiscal failure. BlackRock CEO Larry Fink and executive Rob Goldstein have previously stated that tokenization represents the next generation of financial markets. The asset manager’s report underscores that digital decentralized technologies are becoming a structural pillar of the emerging financial system.