BlackRock CEO Larry Fink confirmed his optimistic position against Bitcoin, calling it “currency of fear” and a modern form of “digital gold”.
In 2017, Fix considered Bitcoin a currency for “launders of money and thieves”, but during Covid he studied BTC and met with people who used the main cryptocurrency in unusual ways.
He gave an example of a woman from Afghanistan, who paid his employees bitcoins, bypassing the restrictions of the Taliban. This meeting forced Finn to reconsider his attitude to the benefits of BTC.
Since then, the views of the top manager have changed, primarily due to understanding the role of BTC as a means of saving. In his conviction, Bitcoin is unlikely to become currency, but he can really be considered digital gold that people buy out of fear.
Fink is sure that the fear of instability in the country and the depreciation of the currency is a powerful incentive that gives Bitcoin legitimacy.
BlackRock, headed by Larry, Finncom, has entered the history of the Bitcoin market thanks to the ISHHARES BITCOIN TRUST (IBIT), launched in January 2024.
According to Cryptoquant, IBIT now controls more than 781,000 BTC by $ 88 billion, which exceeds the reserves of the alleged creator of Bitcoin Satoshi Nakamoto.
Unlike exchange reserves, which are often used for trade, the ETF structure actually excludes bitcoin from circulation. This creates a shock of a sentence, which, in combination with sustainable demand, leads to an increase in the asset.
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Source: Cryptocurrency
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