Bitcoin

BlackRock CEO Larry Fink recently made significant remarks about Bitcoin during his appearance on Fox Business. In a live broadcast, Fink described Bitcoin as "digital gold" and emphasized its potential as an international asset.   
He also expressed his desire to hear from regulators regarding the approval of a Bitcoin exchange-traded fund (ETF).   
This represents a notable shift in Fink's perspective, considering his previous comments on Bitcoin as a "money laundering index" back in 2017.   
Fink highlighted Bitcoin's role as a digital form of gold, explaining its ability to serve as a hedge against inflation and currency devaluation.   
He pointed out that Bitcoin is not tied to any specific currency, making it an alternative asset that can be utilized by individuals seeking to diversify their portfolios. This perspective aligns with the growing recognition of Bitcoin's store of value characteristics, similar to traditional gold.   
Regarding the Bitcoin ETF, Fink emphasized the importance of working closely with regulators and addressing all concerns surrounding the application.   
While he could not provide specific details about the application, Fink stated that BlackRock aims to make cryptocurrencies more accessible and cost-effective for investors.   
He pointed out that the current high buy-sell spread in crypto markets erodes potential returns, and he hopes regulators will view ETF applications as a way to democratize crypto investing.   
Fink's comments on Bitcoin reflect a shift in BlackRock's approach to cryptocurrencies. In March 2022, Fink mentioned that the company was actively exploring digital currencies, stablecoins, and their underlying technologies to better understand their potential benefits for customers.   
He acknowledged the potential of a global digital payment system to improve international transactions and mitigate risks related to money laundering and corruption. 
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BlackRock CEO Larry Fink Says Bitcoin Is Digital Gold, Calls for Regulators to Consider Bitcoin ETF

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