BlackRock CEO Larry Fink recently mentioned Ethereum ETF during an interview with CNBC. In another interview with Fox Business, he praised Bitcoin as a store of value and a tool to combat government economic manipulation.
Larry Fink: China Bans Bitcoin Due to Authoritarianism
Bitcoin is a transnational ledger larger than any government
Larry Fink: China Bans Bitcoin Due to Authoritarianism
Larry Fink praised Bitcoin as a store of value and a tool to combat government economic manipulation during an interview with Fox Business after the approval of the Bitcoin spot ETF.
He said:
To be clear, if you are in a government or country that you fear, this may be one of the reasons why China banned Bitcoin. If you are in a future or country that you are afraid of, or if you are worried about currency depreciation due to excessive government deficits, Bitcoin can be a good long-term store of value.
Larry Fink’s current statement is far different from his position in 2017 when he claimed that Bitcoin was a money laundering index. However, he did not deny that Bitcoin is still one of the tools for illegal activities.
Before answering Bitcoin-related questions, Larry Fink pointed out that the U.S. economy is strong enough. He believes that inflation has obviously “cooled down” and the overall economy is in a favorable position.
Bitcoin is a transnational ledger larger than any government
Host Charlie Gasparino argued that gold still has practical uses in industry and jewelry, whereas Bitcoin is just a ledger.
Larry Fink responded:
But it is an international ledger, it is transnational, it is a transnational ledger larger than any government I have seen.
Charlie Gasparino also mentioned the FTX incident, but Larry Fink emphasized that there are many bad actors in all emerging areas, and Bitcoin is gradually moving towards compliance. The emergence of ETF is a good example.
Larry Fink
Bitcoin spot ETF
BlackRock
Related reading
Multiple Bitcoin ETFs have lower fees than Coinbase, spokesperson: no plans to lower transaction fees
Bitcoin still not favored? Major brokerages Merrill Lynch and Vanguard do not offer Bitcoin ETF, UBS and Citigroup are evaluating.