BlackRock CEO Believes Crypto Will Transcend Global Currencies
- BlackRock CEO Larry Fink claims that cryptocurrencies are “going to transcend any one currency.”
- He said that cryptos have “differentiating value versus other asset classes” in helping diversify portfolios.”
- Back in 2017, Fink slammed Bitcoin, stating that it was just an “index of money laundering.”
- Meanwhile, Fink also confirmed that his firm is working with regulators to get the Bitcoin spot ETF approved.
The CEO of the largest asset management firm in the world, BlackRock, Larry Fink, has revealed that many of his firm’s clients are increasingly asking about cryptocurrencies, and he believes that investors are now intrigued by the digital asset space. It is crucial to note that the firm recently filed for a Bitcoin spot exchange-traded fund in the United States.
Fink said that “more and more of our global investors are asking us about crypto” in an interview with CNBC’s Squawk on the Street on July 14. He added that “we believe we have a responsibility to democratize investing. We’ve done a great job, and the role of ETFs in the world is transforming investing. And we’re only at the beginning of that,” possibly hinting at the BlockRock Bitcoin spot ETF filing with the Securities and Exchange Commission (SEC).
The BlockRock CEO confirmed that his firm is working with the regulators to address any concerns that they may have regarding the digital asset space.
“We are working with our regulators because, as in any new market, if BlackRock’s name is going to be on it, we’re going to make sure that it’s safe and sound and protected,” Fink said.
According to Fink, cryptocurrencies have a “differentiating value versus other asset classes” in helping diversify portfolios. “It’s so international it’s going to transcend any one currency,” said the BlackRock CEO.
It is crucial to note that Fink’s view on cryptocurrencies has changed a lot over the years. Back in 2017, the BlackRock executive said that Bitcoin is an “index of money laundering,” and it “just shows you how much demand for money laundering there is in the world.” On the other hand, the very same year, JPMorgan CEO Jamie Dimon called the owners of Bitcoin “stupid.” He said that if people are “stupid enough to buy it,” they will pay the price for it in the future.
As reported earlier by BitcoinWisdom, BlackRock is waiting for the approval of a Bitcoin spot ETF by the SEC, while JPMorgan said that there might be a chance for the recovery of the crypto market soon.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
