Bitcoin News and Finance
Blackrock CEO Larry Fink on Bitcoin: I’m a Big Believer — Its Bigger Than Any Government Skip to main content

Blackrock CEO Larry Fink on Bitcoin: I’m a Big Believer — Its Bigger Than Any Government

Blackrock CEO Larry Fink on Bitcoin: I'm a Big Believer — Its Bigger Than Any Government

Larry Fink, the CEO of Blackrock, the world’s largest asset manager, says he has become “a big believer” in bitcoin, emphasizing that it is “bigger than any government.” Calling the cryptocurrency “digital gold,” the executive stressed: “Unlike gold, where we manufacture new gold, we’re almost at the ceiling of the most of the amount of bitcoin that could be created.” Blackrock’s chief also sees value in having Ethereum exchange-traded funds (ETFs).

Blackrock CEO Larry Fink Is a ‘Big Believer’ in Bitcoin

Larry Fink, the CEO of Blackrock, the world’s largest asset manager, shared his outlook on bitcoin, crypto, and the spot bitcoin exchange-traded fund (ETF) market, in an interview with CNBC and Fox Business Friday. Blackrock’s spot bitcoin ETF, the Ishares Bitcoin Trust (IBIT), was among the 11 spot bitcoin ETFs approved by the U.S. Securities and Exchange Commission (SEC) on Wednesday.

Describing bitcoin, Fink shared with Fox Business: “If you’re in a country where you’re fearful of your future, fearful of your government, or you’re frightened that your government is devaluing its currency by too much deficits, you can say this is a great potential long-term store of value. Like I said, it’s like digital gold.” The Blackrock chief added:

It’s an international ledger that’s cross-border. It’s bigger than any government.

In an interview with CNBC, Fink explained why he thinks the price of bitcoin will go up. “I believe it goes up as the world is more frightened. If people have fearful geopolitical risks, they’re fearful of their own risk … And unlike gold, where we manufacture new gold, we’re almost at the ceiling of the most of the amount of bitcoin that could be created.”

Fink admitted that three years ago he was a “naysayer,” noting: “About two years ago, I switched, and I’m actually … in the last few years, I’m a big believer.” Emphasizing that he believes bitcoin is an asset class, Fink explained:

I’m a believer in it because I do believe it is an alternative source for wealth holding.

Commenting on Blackrock offering a spot bitcoin ETF, Fink detailed: “To me what we’re trying to do is offer an instrument that can store wealth.” Regarding whether the SEC will approve spot ethereum ETFs now that it has approved spot bitcoin ETFs, the Blackrock executive stated:

I see value in having an Ethereum ETF.

“If you had a tokenized security and you have a tokenized identity … the moment you buy or sell an instrument, it’s known, it’s on a general ledger that is all created together. You want to talk about issues around money laundering and all that, this eliminates all corruption by having a tokenized system,” Fink concluded.

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