FILE PHOTO: Larry Fink, Chairman and CEO of BlackRock, speaks during an interview with CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2023. REUTERS/Brendan McDermid
BlackRock CEO Larry Fink has taken a friendlier stance towards Bitcoin and the broader crypto space.
Fink described Bitcoin as an international asset that he would like to democratize.
BlackRock is looking to work closely with regulators in the U.S. to further Bitcoin adoption through a spot BTC ETF.
Larry Fink previously dismissed Bitcoin calling it a tool for money laundering.
Larry Fink, the man behind the world’s largest asset manager, has taken a rather friendly stance towards Bitcoin and the broader crypto space. As the Chief Executive of BlackRock Inc, Fink described Bitcoin as an international asset in an interview with Fox Business earlier today. His support for the flagship cryptocurrency came just days after his firm filed an application with the SEC to offer a spot Bitcoin ETF.
BlackRock Wants To Democratize Bitcoin
In an interview hosted by Fox Business’ Charles Gasparino, BlackRock CEO Larry Fink stated that his company wants to democratize Bitcoin and the broader crypto market and make it easier and less expensive for investors to explore this asset class. Fink added that he saw the potential in Bitcoin to revolutionize finance by tokenizing assets and securities. He also described BTC as digital gold and compared it with gold in the context of hedging against inflation.
We hope that, like in the past, we could be working with our regulators and get the filing approved one day, and I have no idea what that one day will be, but we’ll see how that all plays out.”
Larry Fink, CEO of BlackRock Inc.
Larry Fink also revealed that his $8.5 trillion asset management giant was working closely with regulators in the United States to seize the opportunity presented by Bitcoin. BlackRock’s application to offer a spot BTC ETF was recently rejected by the Securities and Exchange Commission. According to Fink, the securities regulator should look at the ETF filing as a way to democratize crypto. His latest comments on Bitcoin were the complete opposite of his stance back in 2017 when he described BTC as a tool for money laundering and other illicit activities.