BlackRock CEO Larry Fink recently spoke favorably on cryptocurrencies, saying in an interview with CNBC Squawk Street that they have the potential to outperform any single currency valuation. He noted that crypto is seen as an international asset, and added that the gold ETF revolutionized the gold market.
Fink was unable to speak specifically about Bitcoin due to BlackRock’s spot ETF filing. He discussed the potential of digital gold, citing the global demand of crypto as a sign that it has potential.
Fink believes that ETFs will democratize cryptocurrency investing in a similar way, noting that BlackRock’s clients have been asking about crypto’s role for the last five years. He stated that crypto is a currency “international asset” with unique value compared to other assets, and that it is so international it is expected to “transcend any one currency and currency valuation.”
The $9 trillion asset manager applied for a spot Bitcoin ETF last week, and with Fidelity Investments and Ark Invest, is confident it has done all it takes to get the SEC to approve the first ETF of its kind for the US market.
BlackRock CEO Larry Fink’s bullish remarks on cryptocurrencies have continued to trigger positive vibes, with his latest remarks reiterating his view that digital gold is a global investment asset.
