TL;DR
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Larry Fink just said that crypto will “surpass any currency in currency valuation.”
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And when Larry speaks, others listen – he’s the top dog at the world’s largest asset management group, BlackRock – who has a cool $9.5. trillion in assets.
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BUT! You have to take Larry’s praise with a grain of salt… he is about to launch a US-based Bitcoin ETF (which will likely attract billions of dollars in investment).
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So while there may be conviction behind his words, he will sing the praises of the industry either way (it’s in his best interest). Anyway, we’d love to hear about it!
Full story
In today’s episode “who is this man and why do we like what he puts out?” news…
Larry Fink just said that crypto will “surpass any currency in currency valuation.”
And when Larry speaks, others listen – he’s the top dog at the world’s largest asset management group, BlackRock – who has a cool $9.5. trillion in assets.
It’s the same people who are trying to launch that Bitcoin Exchange Traded Fund (ETF) that we’ve been whining about for the past month.
(Which by the way – being reviewed again, after being rejected last time).
Here’s why you should take Larry’s praise with a grain of salt…
The dude is about to launch a US-based Bitcoin ETF.
A fund that (if approved) is likely to attract billions of dollars in investment.
So while there may be conviction behind his words, he will sing the praises of the industry either way (it’s in his best interest).
That being said…
We’d be lying if we said that when we first read his statement, we didn’t wave back and forth and “preach, Larry, PREACH!” shouted. (like listening to a sermon).
…it got us some strange looks on the subway.