CEO Larry Fink blew up the media space with his statements during an exclusive interview for Fox Business on 5 July 2023.
He said that cryptocurrency could revolutionise the world of finance. Fink also announced that he wants to launch a bitcoin ETF.
Why was everyone surprised? Fink has always been a critic of bitcoin, and in 2018 he even called it a “money laundering index”.
Here are Larry Fink’s most interesting thoughts:
- Bitcoin is the digital analogue of gold.
- Investors can turn to bitcoin as insurance against inflation.
- Fink sees his goal as making bitcoin trading cheaper for investors, as the spread between buying and selling prices is very high right now.
Conclusion: as Fink is one of the most influential managers in the world, the rest of the funds and investors can take his words as a signal of where the wind is blowing.
There is a sense that the world of finance, which has long rejected and neglected cryptocurrencies, is beginning to recognise their potential and is ready to take them on board.
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