Larry Fink, the CEO of the world’s largest asset management firm, believes that crypto, particluarly Bitcoin will finally revolutionize the financial system. During an interview with Fox Business, he stated:
“We do believe that if we can create more tokenization of assets and securities – that’s what bitcoin is – it could revolutionize finance.”
Once being skeptic on crypto, He called it a money laundry tool. Now his opinions are shifted dramatically and he joined the pro bitcoin party.
“I do believe the role of crypto is digitalizing gold, in many ways,” Fink commented. “Instead of investing in gold as a hedge against the onerous problems of any one country.”
“Let’s be clear: Bitcoin is an international asset,” he added. “It’s not based on any one currency, and so it can represent an asset that people can play as an alternative.”
BlackRock has an AUM of $9 trillion, and its move toward filing a spot Bitcoin ETF has fueled the crypto market in recent weeks.
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