In an interview on FOX Business, Larry Fink, CEO of BlackRock, praised the strength of Bitcoin and cited challenges faced by investors who are interested in the asset but are scared to invest. He noted that Bitcoin presents an opportunity for investors in the global financial market to ‘digitize gold.
Fink also told the interviewer that Bitcoin is truly an “international asset” and that BlackRock wants to make investing in the asset as easy as possible. BlackRock is a prominent global investment management corporation headquartered in New York City.
BlackRock primarily operates in the field of investment management, offering a diverse array of investment products and services to institutional investors, corporations, governments, and individuals. The company manages assets on behalf of its clients, which include pension funds, insurance companies, endowments, foundations, and individual investors.
BlackRock is known for its expertise in various investment strategies, including active management, passive or index-based investing, and alternative investments. The company offers a broad range of investment funds and vehicles, such as mutual funds, exchange-traded funds (ETFs), separate accounts, and alternative investment funds.
Although the same CEO in 2017 said that Bitcoin was an “index of money laundering,” the company in 2023 has filed to offer Bitcoin ETFs, which the SEC has refused to approve. If the SEC considers the plea of BlackRock and other legacy firms such as WisdomTree, Invesco, and Valkyrie to have a Bitcoin ETF, it will remove the hurdle of investing in Bitcoin, which Fink said “costs a lot of money” in the interview. “We hope our regulators look at these filings as a way to democratize crypto.”
The CEO also noted that they were working closely with regulators to see that the ETFs are approved and that “instead of investing in gold as a hedge against inflation,” crypto presents a better option since it is decentralized and not tied to a single economic situation.
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