The CEO of investment company BlackRock said on CNBC that Bitcoin is a legitimate financial instrument. The CEO of the Wall Street company believes that the first cryptocurrency has one important feature that investors appreciate.

Larry Fink (Larry Fink) said that Bitcoin has a place in any large investment portfolio, since it can be used to generate additional income:

“Bitcoin has a curious feature that distinguishes it from other coins – it is an instrument that people immediately invest in as soon as they start to feel fear in the market.”

The top manager noted that the first cryptocurrency deservedly received the status of digital gold, capable of diversifying risks. In his opinion, the approach of investors to digital assets is changing, and all this is thanks to Bitcoin.

Speculate about what the rate will be BTC makes sense when the market waits for the results of the November US presidential elections, but the quotes of the leading cryptocurrency are unlikely to undergo significant changes, the CEO of the investment company believes.

Earlier, BlackRock analysts published a report in which they called Bitcoin a unique instrument for protecting against global financial risks, since the first cryptocurrency surpassed the main asset classes in price.