cryptocurrency market

BlackRock CEO Larry Fink: ‘crypto is digitalising gold in many ways’


blackrock ceo larry fink crypto digitalising gold
  • BlackRock CEO Larry Fink was all praise for BTC in a recent interview.
  • The asset manager refiled for a Spot Bitcoin ETF earlier this week.
  • Bitcoin is currently up close to 90% versus the start of the year.

Bitcoin made a new 52-week high this morning after Larry Fink – the Chief Executive of BlackRock Inc agreed that it was a valuable international asset.

Fink is now constructive on Bitcoin

Fink had once dubbed the BTC an index of money laundering. But in a recent interview with Fox Business, he was all praise for the world’s largest cryptocurrency by market cap.

I do believe the role of crypto is digitalising gold in many ways. Instead of investing in gold as a hedge against inflation or the onerous problem of any one country.

Earlier this week, the asset manager refiled for a Spot Bitcoin ETF after the U.S. Securities and Exchange Commission asked for more clarity on its initial application.

BlackRock Inc currently has about $9.5 trillion worth of assets under management.

Is a Spot Bitcoin ETF coming soon?

Note that BlackRock has a history of getting regulatory approval for nearly every exchange-traded fund it has ever filed for.

That’s important considering many experts forecast a Spot Bitcoin ETF to unlock further upside in Bitcoin. The digital currency is already up close to 90% for the year at writing.

BlackRock has already made money investing in BTC and expects the crypto asset to grow further moving forward. According to CEO Larry Fink:

The foundation of BlackRock is about hope. You have for retirement because you believe tomorrow is better than today.



READ SOURCE

This website uses cookies. By continuing to use this site, you accept our use of cookies.