It seems that the largest asset manager in the world, BlackRock, has some pretty interesting things to say about Bitcoin these days. For some, this might come as a surprise, considering the fact that they used to disagree on the importance of BTC.
BlackRock on Bitcoin
BlackRock says that Bitcoin is creating a “global internet of value.”
As Larry Fink says:
“If you’re fearful of your government, or worrying your government is devaluing the currency, then you could see this as a great potential long-term store of value. It’s like digital gold.”
“It is a ledger, but it’s an international ledger that’s…
— Not Larry Fink (@NotLarryFink) February 9, 2024
Someone commented: “BlackRock is the fourth branch of the government. Read that statement carefully. “We at BlackROCK are legitimizing this digital asset.” Who are you FINK?”
Not too long ago, I was reporting that according to CNBC, after a long battle between the crypto industry and the U.S. Securities and Exchange Commission, Bitcoin exchange-traded funds (ETFs) have finally arrived. Larry Fink, the CEO of BlackRock, the world’s largest asset manager, believes this is just the first step towards a new financial world.
ETFs were introduced as a way to provide investors with exposure to a young and risky asset class. However, Fink believes that the value of blockchain technology goes beyond Bitcoin and that these new ETFs are only the beginning of a broader tokenization of other assets. Fink made these comments during his appearance on CNBC’s “Squawk Box” on Friday.
“ETFs are step one in the technological revolution in the financial markets,” he said. “Step two is going to be the tokenization of every financial asset.”
Last June, BlackRock applied for a Bitcoin ETF which gave rise to hope that such a fund could finally come into existence.
This event renewed the interest in tokenizing real-world assets, such as gold, which many financial institutions believe would let them provide their clients with more information and data about their investments.
