CDS Crypto News Larry Fink of BlackRock: Crypto as “Digitizing Gold” and Bitcoin’s Potential to Revolutionize Finance
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Larry Fink of BlackRock: Crypto as “Digitizing Gold” and Bitcoin’s Potential to Revolutionize Finance

In a recent interview with Fox Business, BlackRock CEO Larry Fink expressed his belief that cryptocurrency serves as a form of

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Larry Fink of BlackRock: Crypto as "Digitizing Gold" and Bitcoin's Potential to Revolutionize Finance

Larry Fink of BlackRock: Crypto as “Digitizing Gold” and Bitcoin’s Potential to Revolutionize Finance

In a recent interview with Fox Business, BlackRock CEO Larry Fink expressed his belief that cryptocurrency serves as a form of “digitizing gold” and that bitcoin has the capability to revolutionize the finance industry. Fink’s endorsement of crypto coincides with BlackRock’s efforts to launch a spot bitcoin exchange-traded fund (ETF).

Acknowledging the recent hurdles faced by BlackRock and other financial institutions in gaining approval for a bitcoin ETF, Fink emphasized their willingness to collaborate with regulators. He stated that BlackRock closely collaborates with regulators, striving to address any concerns they may have. Fink views tokenization of assets and securities, exemplified by bitcoin, as an opportunity to enhance finance and democratize investing by enabling fractional ownership.

Larry Fink of BlackRock: Crypto as "Digitizing Gold" and Bitcoin's Potential to Revolutionize Finance

While Fink admitted to being skeptical of crypto due to its association with illicit activities in the past, his perspective has since evolved to one of optimism. He stated that crypto serves to digitize gold in various ways, implying its potential as a store of value and an alternative to traditional assets.

Although crypto enthusiasts highlight the advantages of bitcoin and digital assets, it is important to note the inherent risks associated with virtual currencies. These risks include the asset class’s extreme volatility, as evidenced by bitcoin’s 90% rally in 2023 following a 64% plunge the previous year. In 2021 alone, bitcoin experienced a nearly 60% surge.

As of the latest update, bitcoin was trading at $31,481.75, showing a 2.27% increase, according to CoinMarketCap.

Larry Fink of BlackRock: Crypto as "Digitizing Gold" and Bitcoin's Potential to Revolutionize Finance

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