BlackRock Larry Fink made statements about Bitcoin (BTC) in the program he participated in Fox Business.
Fink described Bitcoin as digital gold on a live broadcast. Fink stated that BTC is an 'international asset'.
Fink announced that he would like to hear from regulators about the Bitcoin ETF.
In 2017, Fink said that BTC was a “money laundering index.” But in March 2022, he told shareholders he was examining digital currencies, stablecoins and their underlying technologies to understand how they can help their customers. He also explained that a carefully designed global digital payment system could improve the resolution of international transactions while reducing the risk of money laundering and corruption.
Fink continued his statement as follows:
“I think the role of cryptocurrencies in many ways is to digitize gold. To hedge against inflation and avoid currency devaluation, an international asset BTC can be used instead of investing in gold. BTC is not based on any currency, so it can create an asset that people can use as an alternative.”
“We have a good track record of working with our regulators and trying to make sure we consider all issues about any application,” Fink said, adding that he could not go into details about the application.
“What we're trying to do with crypto is to make it more democratic and much cheaper for investors. Currently, the buy-sell spread for crypto is very expensive. This erodes a lot of the payoffs… We hope our regulators will look at these applications as a way to democratize crypto.”
*Not investment advice.