Bitcoin ETF

Bitcoin

Spot

<p>Larry Fink is grabbing attention these days. Wondering why? Well, the big boss of the world’s largest asset manager keeps talking about Bitcoin, Bitcoin ETFs, and even cryptocurrencies. Enough to stir confusion among observers who once knew him as a notorious crypto-skeptic. But then, when did he switch sides? How did this turnaround come about? Questions that are tickling the minds of Bitcoin enthusiasts at the moment.</p>
<h2 id="h-larry-douglas-fink-a-neo-converted-bitcoiner">Larry Douglas Fink, a Neo-Converted Bitcoiner</h2>
<p>In 2023, the CEO of BlackRock, apparently <strong>inspired by the possibility of introducing a Spot Bitcoin ETF</strong>, rolled out the red carpet for <strong>the praises of Bitcoin and cryptocurrencies</strong>. During an interview with CNBC in July of that same year, he stated that Bitcoin « <em>[has] a differentiated value compared to other asset classes, but more importantly, because it is so international, it will transcend any currency</em> ».</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Three months later, crypto media echoed a <strong>new stance</strong> by the University of California, Los Angeles (UCLA) graduate regarding Bitcoin. He described it as a « <em><a href="https://www.cointribune.com/le-bitcoin-considere-comme-une-valeur-refuge-selon-larry-fink/" target="_blank" rel="noopener noreferrer nofollow">safe haven</a></em> ».</p>
<p>An amusing turnaround for someone who, for a long time, was labeled a crypto-skeptic, along with Warren Buffet and his cronies.</p>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">Interesting anecdote about how Larry Fink changed tune re bitcoin and broke away his fellow Wall St CEOs (which I was always curious about). Most big cos have a Robbie Mitchnick (or a few) but getting the ear and an open mind of the top person is a dif story. <a href="https://t.co/hPjmf9Hirx" rel="noopener noreferrer nofollow">https://t.co/hPjmf9Hirx</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1751036268421476371?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 27, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
 <figcaption class="wp-element-caption">
  « <em>Interesting anecdote on how Larry Fink changed his mind about Bitcoin and distanced himself from his fellow Wall Street CEOs (which has always intrigued me). <strong>Most major companies have a Robbie Mitchnick (or a few) </strong>but getting the ear and open-mindedness of the person at the very top is a different story.</em> »
 </figcaption>
</figure>
<p>This comment by Eric Balchunas, senior ETF analyst at Bloomberg, supports statements by the famous crypto trader, The Wolf of All Streets, stating that:</p>
<p>« <em>Larry Fink has become the world’s biggest Bitcoin advocate. Many believe his intentions are malicious. I asked Scaramucci if Fink had been legitimately ‘orange pilled’… and he shared a personal anecdote with Larry Fink that proves it is the case</em> »<em>.</em></p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">BTCUSD chart</span></a> by TradingView
 </div>
</div> 
<h2 id="h-bitcoin-the-orange-pill-at-the-heart-of-the-blackrock-empire">Bitcoin, the Orange Pill at the Heart of the BlackRock Empire?</h2>
<p>In a <a href="https://www.cointribune.com/orange-pill-pilule-bitcoin-matrix-liberte-financiere/" target="_blank" rel="noopener noreferrer nofollow">detailed analysis of the “Orange Pill”</a>, our colleague brought up a scene from The Matrix (1999) where Morpheus offers Neo two pills. The first, blue, symbolizes the choice of the matrix, slavery, or the status quo, while <strong>the second, orange, allows one to « <em>see an almost frightening reality</em> ».</strong></p>
<p>According to Mike Novogratz of Galaxy Digital, Larry Fink got “Orange Pilled” in 2023. In the <a href="https://www.coindesk.com/business/2023/07/31/larry-fink-got-orange-pilled-says-galaxy-digitals-mike-novogratz-bloomberg/" target="_blank" rel="noopener noreferrer nofollow">pages of CoinDesk</a>, he described this conversion as the « <strong><em>most important thing</em></strong><em> that happened this year in the Bitcoin domain</em> ».</p>
<p>In October 2023, <a href="https://www.dlnews.com/articles/people-culture/blackrock-larry-fink-timeline-crypto-sceptic-to-bitcoin-fan/" target="_blank" rel="noopener noreferrer nofollow">DL News</a> clarified that <strong>it took time for Larry Fink to learn to love Bitcoin</strong>. In 2017, he told Bloomberg TV that he believed in the future of cryptocurrencies. However, the bear market at that time led him to associate BTC with « <em>a money laundering index</em> ». In 2018, Fink emphasized that BlackRock’s clients showed no interest in these digital assets, arguing a lack of legitimacy and transparency.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/cointribune?a=2831A22E17" target="_blank" rel="noopener noreferrer nofollow">20€ de bonus pour votre inscription sur Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">Ce lien utilise un programme d’affiliation</a>
</div>
<p>A year later, <strong>the arrival of Robbie Mitchnick, a former Ripple executive, at BlackRock </strong>as head of digital assets marked a turning point. Gradually, Larry Fink began to change his tone regarding Bitcoin and other cryptocurrencies.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>
<p>We know the rest: on June 15, 2023, BlackRock filed an application for a Spot Bitcoin ETF with the SEC. <a href="https://www.cointribune.com/en/bitcoin-the-sec-has-finally-approved-spot-etfs/" target="_blank" rel="noopener noreferrer nofollow">Its approval</a> took place on January 10, 2024. Larry Fink seems to have indeed embraced the orange revolution within his financial empire.</p>

Larry Fink and Bitcoin: A sincere romance or a poker game?

Table of Contents

Cointribune EN

Other articles published on Jan 28, 2024

Token Presale for New Bitcoin Alternative Surges Towards 1.2-Million Tokens Sold — Top ICO Still ...

Helium’s Remarkable Ascent: A 47% Price Surge in Just Four Days

Bitcoin Price Analysis and Expert Predictions

From Fine Art to Fine Wine: The Expanding Universe of Tokenized Luxuries

Optimism DeFi TVL drops by 11% in 2024 – Here’s why

Will Shiba Inu Price Extend its Correction Trend in February?

Join our free newsletter for daily crypto updates!