CandleFocus ? BlackRock’s Fink: Bitcoin is an Asset Class, Like Gold
2024-10-15
Author: Content Editor
During an earnings call, CEO of BlackRock, Larry Fink, expressed his belief that Bitcoin is a legitimate investment option and likened it to gold. Fink discussed Bitcoin's potential growth and its role as an asset class, stating that it is an alternative to commodities like gold. Fink's recognition of Bitcoin and other digital assets was praised by prominent figures in the crypto industry. BlackRock's Bitcoin Trust has seen significant inflows, and Fink suggested the company's plans to expand its offerings and make investing in cryptocurrencies more accessible. Despite Bitcoin's current market cap being significantly smaller than the US housing market, Fink predicted that Bitcoin could eventually become as large as the housing market. He also emphasized the importance of transparency, liquidity, and analytics in driving the growth of digital assets.
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