BlackRock CEO Larry Fink praises Bitcoin, applies for Spot-Bitcoin ETF
In a recent interview, Larry Fink, CEO of BlackRock, expressed his positive views on Bitcoin. This comes as the asset management firm reapplied for a Spot-Bitcoin ETF earlier this week. Bitcoin has seen a nearly 90% increase in value since the beginning of the year.
Bitcoin reached a new 52-week high this morning after Larry Fink, Chairman of BlackRock Inc., agreed that it is a valuable international asset.
Fink, who once referred to BTC as an index for money laundering, praised the world's largest cryptocurrency by market capitalization in a recent interview with Fox Business. He said, "I believe that the role of cryptocurrency is in many ways to digitize gold. Instead of investing in gold to hedge against inflation or the nagging problems of a country."
Earlier this week, the asset manager reapplied for a Spot-Bitcoin ETF after the US Securities and Exchange Commission demanded more clarity on their initial application.
BlackRock Inc. currently manages assets worth around $9.5 trillion.
The possibility of a Spot-Bitcoin ETF is becoming more likely, considering BlackRock's track record of obtaining regulatory approval for almost every exchange-traded fund it has ever applied for. Many experts believe that a Spot-Bitcoin ETF would further propel Bitcoin's upward movement. As of now, the digital currency has already increased in value by nearly 90% this year.
BlackRock has already made money from investing in BTC and expects the crypto asset to continue growing in the future. According to CEO Larry Fink, "At the core of BlackRock is hope. You have to retire because you believe that tomorrow is better than today."
In conclusion, Larry Fink's positive remarks on Bitcoin and BlackRock's reapplication for a Spot-Bitcoin ETF have generated optimism within the cryptocurrency community. With Bitcoin reaching new all-time highs and the possibility of a regulated ETF, the future looks promising for the digital currency.
