Larry Fink, CEO of the world's largest asset management company Blackrock, made a brief statement about cryptocurrencies.
Speaking on CNBC's Squawk on the Street, BlackRock CEO said:
“We have a responsibility to democratize investment.
Cryptocurrencies are international assets; They have distinctive values compared to other currencies.
(Smiling) Due to our current spot Bitcoin ETF application, I cannot speak directly about Bitcoin.”
Stating that cryptocurrencies have distinctive features, they have an international position and they are faced with a high demand for them, Fink added that there are serious opportunities in this field.
Larry Fink of @BlackRock thinks #Bitcoin will transcend every international currency due to broad-based worldwide demand. pic.twitter.com/VZ0UqAGG4N
— Michael Saylor⚡️ (@saylor) July 14, 2023
Blackrock has been involved in cryptocurrencies since 2021, but has not made any serious investments to date. The company was processing Bitcoin transactions in 2021 and 2022, calling it a warm-up round.
The company made its biggest move regarding cryptocurrencies last month, filing an official application with the SEC for a spot Bitcoin ETF in partnership with Coinbase.
While Blackrock's application encouraged other companies, Bitcoin experienced an increase of close to 25% after this application.
