Why did the head of BlackRock “re-brand” and change his stance on bitcoin?

BlackRock has changed its position on bitcoin

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:

  1. Bitcoin is the digital analogue of gold.
  2. Investors can turn to bitcoin as insurance against inflation.
  3. 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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  • Anthony gray 07.08.2023 at 21:31

    I got cheated by this fake crypto platform. I think they need to be banned. Poor customer worst experience my only joy is that Mrs Lisa came to my rescue. And she is my case attorney after I reported to them on their company website.