Bitcoin News and Finance
Blackrock CEO Larry Fink Sees Global Demand and ‘Pent-up Interest in Crypto’ Amid Israel-Hamas War Skip to main content

Blackrock CEO Larry Fink Sees Global Demand and ‘Pent-up Interest in Crypto’ Amid Israel-Hamas War

Blackrock CEO Larry Fink Sees Global Demand and 'Pent-up Interest in Crypto' Amid Israel-Hamas War

Larry Fink, the CEO of the world’s largest asset manager, Blackrock, sees the recent bitcoin rally as “an example of the pent-up interest in crypto.” Noting that as the Israel-Hamas war rages on, more people will be running to bitcoin as “a flight to quality,” the executive emphasized: “We are hearing from clients around the world about the need for crypto.”

‘The Rally Today Is About a Flight to Quality’

Blackrock CEO Larry Fink offered his perspective on the bitcoin rally Monday following a rumor that the U.S. Securities and Exchange Commission (SEC) had approved his company’s spot bitcoin exchange-traded fund (ETF) application.

While emphasizing that he cannot discuss “the specifics of anything,” Fink said on Fox Business:

I think it’s just an example of the pent-up interest in crypto. We are hearing from clients around the world about the need for crypto.

The rumor was spread by crypto news outlet Cointelegraph which posted on social media platform X early Monday morning that the SEC had approved Blackrock’s spot bitcoin ETF. The news outlet later retracted the story. Bitcoin spiked nearly 10% before dropping back to the $28,000 level after the fake news report.

Noting that “Some of this rally is way beyond the rumor,” the Blackrock CEO stressed:

I think the rally today is about a flight to quality, with all the issues around the Israeli war now, [and] global terrorism. And I think there’s more people running to a flight to quality — whether that is in Treasurys, gold, or crypto, depending on how you think about it.

Blackrock filed an application for Ishares Bitcoin Trust, a spot bitcoin ETF, with the SEC in June. If approved by the SEC, the trust will use Coinbase Custody as its custodian. In July, Fink said crypto will transcend any one currency.

A growing number of financial institutions have filed for approval to launch spot bitcoin ETFs with the SEC. However, none have been approved. Last month, several U.S. lawmakers urged the SEC to immediately approve spot bitcoin ETF applications. Steven Schoenfeld, former head of International Equity Product Strategy at Barclays Global Investors expects the SEC to approve all bitcoin ETF applications within three to six months. On Friday, the deadline for the SEC to appeal the circuit court decision regarding Grayscale Investments’ application to convert its bitcoin trust (GBTC) to a spot bitcoin ETF expired without the SEC appealing.

What do you think about the statements by Blackrock CEO Larry Fink? Let us know in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory