BlackRock CEO Larry Fink now refers to Bitcoin as “digital gold”

BlackRock CEO Larry Fink has referred to Bitcoin as a “digital gold” and acknowledged that the cryptocurrency now serves as a legitimate alternative asset, reversing his earlier skepticism toward digital ￰0￱ said that he had to review his assumptions about BTC after calling it an “index of money laundering” in ￰1￱ now sees the coin as an alternative asset, but still warns investors not to overexpose their portfolios to ￰2￱ Fink changes his view and accepts Bitcoin as a real asset In 2017, Fink referred to Bitcoin as an “index of money laundering” and stated that it was primarily used by individuals engaged in illicit ￰3￱ other large bank and investment executives agreed with him at that time because they thought that digital currencies would eventually disappear.

However, more investors have begun seeking new ways to safeguard their savings against inflation, political instability, and rising debt in many ￰4￱ attracts these investors because it has survived several market crashes and still managed to ￰5￱ had a change of heart and now says crypto offers investors an alternative option for storing and protecting their money when other investments seem ￰6￱ when the CEO of the largest money management company in the world changes his opinion, the whole financial industry pays ￰7￱ still advises people to be cautious and not to allocate too much of their investments to Bitcoin. “It is not a bad asset,” he said, “but I don’t believe it should be a large component of your portfolio.” BlackRock was one of the first companies in the United States to offer a spot Bitcoin Exchange-Traded Fund (ETF) in 2024, with its application approved by the US Securities and Exchange Commission (SEC).

The ETF enables individuals to invest in Bitcoin in a traditional stock exchange format, eliminating the need to purchase or store digital coins ￰8￱ fund became the largest crypto ETF in the world within months of its launch and even reached over $93.9 billion in assets under ￰9￱ investors turn to Bitcoin for protection against inflation and weak currencies Big players like BlackRock and Fidelity have already added BTC to some of their investment products, which demonstrates just how much cryptocurrency is becoming a mainstream part of the financial ￰10￱ companies like Tesla, Strategy, and Metaplanet are also buying and holding Bitcoin as part of their corporate assets to protect themselves against inflation and the declining value of traditional ￰11￱ has a fixed supply of only twenty-one million, and no one can create more, so it is not affected by inflation like the paper money that governments can print ￰12￱ experts say that problems in the global economy are driving up interest in ￰13￱ face high inflation, trade wars, rising debt, and political conflicts that make markets unpredictable, so people start looking for safer places to put their money that are not tied to any single country or ￰14￱ fits this idea because it operates on a decentralized global network that cannot be controlled or shut ￰15￱ Dori, Chief Investment Officer of Sygnum Bank, stated that global tension and the risk of weakening currencies are among the reasons why Bitcoin is becoming increasingly appealing as a safe ￰16￱ investors worldwide have also shown considerable interest in ￰17￱ Fink says almost half of the demand for BlackRock’s Bitcoin ETF now comes from regular retail investors, and about three-quarters of those people had never owned any iShares investment product ￰18￱ growing trend connects the company with a new audience that might not have trusted traditional investment products in the past, and it also shows just how much Bitcoin is bridging the gap between the old and new worlds of ￰19￱ Bybit now and claim a $50 bonus in minutes