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BlackRock CEO Larry Fink is "mistaken" about Bitcoin

"Bitcoin just shows how high the demand for money laundering is in the world," Larry Fink said in 2017.

By Finst News
• 1 min read

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"Bitcoin just shows how high the demand for money laundering is in the world," Larry Fink said in 2017. Now, several years later, the BlackRock CEO is a fan of BTC.

In a interview with CNBC stated BlackRock CEO Larry Fink is "mistaken" about Bitcoin: "I was a skeptic, a proud skeptic," Fink said. He then studied the largest cryptocurrency in terms of market capitalization and changed his mind.

"Bitcoin is a legitimate financial instrument. [...] It is a tool for people from countries whose currency has been devalued by excessive deficits," explains the 71-year-old.

The BlackRock founder firmly believes BTC should play a role in investment portfolios. "I see it as digital gold," he adds.

It is not surprising that Larry Fink is emerging as a proponent of Bitcoin. After all, BlackRocks iShares Bitcoin Trust (IBIT) is among the most successful ETFs of all time. With inflows of about US$18.3 billion, it has even overtaken the Grayscale ETF (GBTC). As it turns out from data from Apollo.

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