‘Bitcoin is an international asset' according to BlackRock CEO
05 Jul 2023
Larry Fink, CEO of the largest asset management company in the world, discussed BlackRock's spot Bitcoin ETF filing and the potential advantages of cryptocurrencies.
During the asset manager's application to list a spot Bitcoin exchange-traded fund (ETF) in the United States, Larry Fink, the CEO of BlackRock, made comments that were favorable to the cryptocurrency.
Talking on Fox Business on July 5, Rat said the job of cryptographic money was to a great extent "digitizing gold," proposing U.S. controllers think about how as an ETF straightforwardly connected to Bitcoin could democratize finance. Fink has frequently commented on major crypto-related events during his time at BlackRock, such as the collapse of FTX in 2022 and rising BTC interest.
"Let's get straight to the point: Fink stated, "Bitcoin is an international asset." Because it is not based on any one currency, it can be used as an alternative asset.
Fink suggested that Bitcoin could be used by investors as a hedge against inflation or the devaluation of some currencies. Fink's pro-crypto sentiment could cause ripples within and outside the industry because he is the CEO of the largest asset management firm in the world, managing more than $9 trillion in assets as of April.
Under Fink, BlackRock has endeavored to send off a spot BTC ETF with cryptographic money trade Coinbase going about as a reconnaissance accomplice. Given that the Securities and Exchange Commission has previously rejected all spot BTC ETF applications, it is unclear whether the investment vehicle will be approved.
During the asset manager's application to list a spot Bitcoin exchange-traded fund (ETF) in the United States, Larry Fink, the CEO of BlackRock, made comments that were favorable to the cryptocurrency.
Talking on Fox Business on July 5, Rat said the job of cryptographic money was to a great extent "digitizing gold," proposing U.S. controllers think about how as an ETF straightforwardly connected to Bitcoin could democratize finance. Fink has frequently commented on major crypto-related events during his time at BlackRock, such as the collapse of FTX in 2022 and rising BTC interest.
"Let's get straight to the point: Fink stated, "Bitcoin is an international asset." Because it is not based on any one currency, it can be used as an alternative asset.
Fink suggested that Bitcoin could be used by investors as a hedge against inflation or the devaluation of some currencies. Fink's pro-crypto sentiment could cause ripples within and outside the industry because he is the CEO of the largest asset management firm in the world, managing more than $9 trillion in assets as of April.
Under Fink, BlackRock has endeavored to send off a spot BTC ETF with cryptographic money trade Coinbase going about as a reconnaissance accomplice. Given that the Securities and Exchange Commission has previously rejected all spot BTC ETF applications, it is unclear whether the investment vehicle will be approved.
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