BlackRock founder and CEO Larry Fink expressed confidence in Bitcoin as a legitimate financial instrument in a recent interview with CNBC. Fink said that Bitcoin offers uncorrelated returns and is an attractive option for portfolio diversification.
“I believe Bitcoin is legitimate,” Fink said. “It has the potential for abuse like any other asset, but it is fundamentally a financial instrument that offers uncorrelated returns.”
Fink detailed how Bitcoin could be a viable option for investors concerned about macroeconomic factors, such as countries devaluing their currencies through excessive deficits. He noted that in some countries where citizens may feel insecure about their financial stability, Bitcoin presents a unique investment opportunity.
“It’s a tool that you invest in when you’re more afraid,” Fink said, pointing to the growing trend of investors looking for alternatives outside of traditional monetary systems. Bitcoin, Fink said, allows individuals to maintain greater financial control in situations where national currencies might be at risk.
Fink concluded his remarks by reaffirming his belief in Bitcoin’s role in diversified investment portfolios, emphasizing that its decentralized structure can serve as a hedge against economic uncertainty.
*This is not investment advice.
