BlackRock CEO Larry Fink Embraces Bitcoin as 'Digital Gold'
BlackRock CEO Larry Fink has expressed strong support for Bitcoin, describing it as a "legitimate financial instrument" and "digital gold." Fink, who had previously been skeptical of cryptocurrencies, now believes Bitcoin offers uncorrelated returns and can act as a hedge against economic and political instability. He emphasized Bitcoin's potential to provide financial control for individuals in countries facing significant turmoil and high public debt.
Fink's comments come in the wake of BlackRock's iShares Bitcoin Trust (IBIT), which has seen over $18 billion in inflows since its launch, making it the largest Bitcoin exchange-traded fund. The firm has also filed for an Ether ETF and entered the tokenization space with its BUIDL fund, which holds over $524 million in tokenized US Treasuries on Ethereum. Fink sees Bitcoin becoming a significant asset class in global portfolios and believes it could be a valuable investment for those concerned about excessive government deficits and currency devaluation.
