Recently, Fink appeared on Fox Business and stated that bitcoin and other cryptocurrencies are “digitizing gold”.
Larry Fink is the current CEO of BlackRock, with more than $9 trillion in assets under management as of April. According to his statement, BTC is an international asset. His appearance made a bullish remark on the market.
On his statement, Fink proposed that investors could use Bitcoin as a safety net against price increases and devaluation of particular currencies. And his pro-crypto stance may have an impact both inside and outside the crypto and financial industry.
Fink said that “Instead of investing gold as a hedge against inflation, a hedge against the onerous problems of any country, or the devaluation of your currency whatever country you are in. Bitcoin is an international asset, it’s not based on any one’s currency. And so it can represent asset that people can play as an alternative.” He also added that the investment of BlackRock is about HOPE.
A lot of investors are invested in gold and we all know that it also serves as a store of value, however, bitcoin supports the idea and it also serves as a store of value. Fink compared bitcoin to gold, he believes that the digital asset’s potential will be as a global store of wealth and recognizes its international nature. During his news appearance in Fox Business, he emphasized that “Bitcoin is an international asset”
Fink has been an influential person in the crypto industry, he often commented on major events affecting the crypto space, that includes the collapse of FTX in 2022 and the rising interest in BTC. Many crypto users was hyped and responded positively to Fink’s statement. One of them even said on social media that his words could cause the price of certain assets to surge in what they call the “Fink Pump”.
With this exposure, we can see how established financial organizations are beginning to adopt and recognize the potential of cryptocurrencies. Big organizations and institutions such as BlackRock might influence the general public towards the acceptance and adoption of cryptocurrencies.
In an advancing world of technology, we should keep up on the new ways of protecting our assets.
A lot of big investors and multi-billionaire personalities has a positive view on cryptocurrencies. Larry Fink’s statement on the conservative business news channel and website publication, “Fox Business”, made a promising statement about the cryptocurrency, and that made a huge impact on Bitcoin investors and the cryptocurrency industry itself.
