In an interview with Fox Business on July 5th BlackRock CEO Larry Fink said that “I believe the role of crypto is digitizing gold in many ways.Instead of investing in gold as a hedge against inflation .. or the devaluation of your currency ..Let’s be clear, Bitcoin is an International Asset“. During an interview with Fox Business on Wednesday, Fink emphasized the role of cryptocurrency as “digitizing gold.”
— SMC Report (@SMCReport) July 6, 2023
Fink further indicated that people should move towards Bitcoin instead of investing in Gold or devaluating their currency. It is a very bullish remark by BlackRock CEO. Although the SEC is yet to approve a spot Bitcoin ETF, market participants are particularly optimistic about BlackRock’s chances given the investment manager’s track record of having nearly every ETF application approved.
“We hope that, like in the past, we could be working with our regulators and get the filing approved one day, and I have no idea what that one day will be, but we’ll see how that all plays out,” said Fink.
BlackRock, Inc. is an American multi-national investment company based in New York City. Founded in 1988, initially as an enterprise risk management and fixed income institutional asset manager, BlackRock is the world’s largest asset manager, with US$9.09 trillion in assets under management as of April 14, 2023.
At the time of writing this post we saw a bullish trend in bitcoin chart, and BTC was trading at $31,118.03, which is 1.87% higher than the last week. Also, the Bitcoin price has surged 85% since the beginning of the year.
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