BlackRock Chief Calls Bitcoin “Digital Gold”

Larry Fink, the chief executive officer of the largest asset manager in the world BlackRock, described Bitcoin as "digital gold".

In an interview with CNBC, Fink spoke about Bitcoin, confirming that the cryptocurrency is “absolutely” a lucrative investment in the long run.

Previously known for his skeptical stance on the cryptocurrency market, Fink has significantly changed his stance this year. Back in March, he expressed strong optimism about Bitcoin’s long-term potential, and this view was further bolstered by the successful launch of BlackRock’s Bitcoin ETF (IBIT) in January.

In a recent conversation with Jim Cramer, Larry Fink reaffirmed his belief in Bitcoin as “digital gold,” reflecting on his journey from skepticism to endorsement of the cryptocurrency.

“I used to be a proud skeptic,” Fink admitted. “After studying and understanding Bitcoin, I realized that my previous views were wrong.”

Larry Fink believes in #Bitcoin.pic.twitter.com/hL2UZud2H3

— Michael Saylor⚡️ (@saylor) July 15, 2024

Fink describes Bitcoin as a legitimate financial instrument with inherent value. He views cryptocurrency as a promising investment for those seeking assets that are “outside the control of their country’s financial system.