BlackRock 2026 Outlook Report: Digital assets are the infrastructure for payment and settlement, optimistic about the performance of AI related US stocks BlockBeats News: On January 13th, BlackRock recently released its 2026 Global Outlook report. The report emphasizes the huge scale of investment in AI infrastructure, which leads to a "micro is macro" and brings challenges such as rising leverage and the illusion of diversification. Maintain a pro risk stance overall, overstock US stocks (especially AI related), and be optimistic about proactive investment opportunities. The three core investment themes of the report are: Micro is macro: AI construction is led by a few companies, and the capital expenditure scale is large enough to affect the overall macro. Investment could reach $5-8 trillion (2025-2030), supporting US economic growth by 2026 (investment contribution is three times the historical average), and remaining resilient even if the labor market cools down. But it is uncertain whether the revenue will be sufficient to match the expenses, and how much will flow back to the tech giants. The report suggests that AI may accelerate innovation, but major technological changes over the past 150 years have not broken the long-term 2% growth trend in the United States; However, the scenario of a 'growth breakout' is now imaginable. Leveraging up: AI builders invest heavily in the early stages but experience revenue lag, leading to an increase in system leverage; Combined with high government debt, it creates vulnerability. Prefer private credit and infrastructure financing. Tactical low-end long-term government bonds (such as US Treasury bonds) are unfavorable for long-term bonds due to high leverage and rising capital costs. Diversification mirage: Under the dominant trend, traditional diversification may actually be a concentrated bet. Investors need to proactively hold risks, maintain portfolio flexibility (with Plan B), and seek unique sources of returns from private markets and hedge funds. The report specifically points out that BlackRock regards digital assets, especially stablecoins, as a bridging of the financial system for payments and settlements, rather than purely speculative assets. Stablecoins are regarded as the 'digital dollar track', evolving from native cryptographic tools to bridges between traditional finance and digital liquidity, expanding into cross-border payments, settlements, and other fields, especially in areas where traditional systems are slow, expensive, or fragmented. The report suggests that encryption is integrating into mainstream finance, stablecoins are maturing as infrastructure, supporting global liquidity flows, and overlapping with traditional finance.