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BlackRock CEO Larry Fink likens crypto to ‘digitizing gold’; praises Bitcoin as an ‘international asset’
Jul. 5, 2023
By Jacob Oliver
Five years ago, Larry Fink said BlackRock would not consider dealing in crypto until it was 'legitimate'; its Bitcoin ETF applications beg the question if the world's largest asset manager considers that threshold met.
Larry Fink, CEO of BlackRock, liked cryptocurrencies—and Bitcoin and particular—to “digitizing gold” while praising Bitcoin as an “international asset” in an interview with Fox Business today.
Fink said:
“Bitcoin is not based on any one currency, and so it can represent an asset that people can play as an alternative. It’s digitalizing gold in many ways. Instead of investing in gold as a hedge against the onerous problems of any one country or the devaluation of your currency of whatever country you’re in, Bitcoin is an international asset.”
The perspective contrasts with Fink’s comments at the New York Times Dealbook Conference in 2018. At the time, he expressed caution about the cryptocurrency industry, stating that it needed time to mature and become “legitimate” before BlackRock would consider trading crypto assets or launching crypto-based ETFs.
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