- BlackRock CEO Larry Fink referred to Bitcoin as an international asset.
- BlackRock’s Bitcoin ETF application drove Bitcoin to reach 12-month high.
BlackRock CEO Larry Fink expressed his positive outlook on cryptocurrencies in a recent interview with Fox Business, specifically referring to Bitcoin (BTC) as an “international asset” and endorsing the idea of crypto serving as “digital gold.”
Further, Fink highlighted the potential of cryptocurrencies. Saying, “I do believe that the role of crypto is digitalizing gold in many ways.” Also, BlackRock’s CEO explained how investing in Bitcoin can serve as a hedge against inflation and protect against the economic challenges faced by individual countries or the devaluation of national currencies.
BlackRock CEO Remarks on Cryptocurrency
BlackRock CEO remarks come as BlackRock, the world’s largest asset manager with $9.5 trillion in assets, recently filed an application with the U.S. Securities and Exchange Commission (SEC) for a Bitcoin exchange-traded fund (ETF).
However, Comparing Bitcoin to gold, Fink emphasized its utility as a global asset, transcending geographical boundaries and offering diversification opportunities.
Further, BlackRock’s move to apply for a Bitcoin ETF has garnered significant attention. And contributed to a surge in institutional investor interest. Also, while the regulatory landscape surrounding cryptocurrencies remains complex and evolving, Fink’s remarks, combined with BlackRock’s application for a Bitcoin ETF. That contribute to the ongoing narrative of the growing integration of cryptocurrencies into the global financial ecosystem.
The anticipation potential approval of a Bitcoin ETF has led to an influx of funds into the cryptocurrency market. That propelling Bitcoin to reach a 12-month high.
At the time of writing, Bitcoin (BTC) traded at $30,483.81 with a 24-hour trading volume of over $12.6 billion, which soared around 11.5%. Also, the Bitcoin price has surged 85% since the beginning of the year.
