- BlackRock CEO Larry Fink has taken a friendlier stance towards Bitcoin and the wider crypto space.
- Fink described Bitcoin as an international asset that he would like to democratize.
- BlackRock wants to work closely with regulators in the US to promote Bitcoin adoption through a spot BTC ETF.
- Larry Fink previously rejected Bitcoin, calling it a money laundering tool.
Larry Fink, the man behind the world’s largest asset manager, has taken a rather friendly stance towards Bitcoin and the wider crypto space. As Chief Executive of BlackRock Inc, Fink described Bitcoin as an international asset in an interview with Fox Business earlier today. His support for the flagship cryptocurrency came just days after his company filed with the SEC to offer a spot Bitcoin ETF.
BlackRock wants to democratize Bitcoin
In a interview hosted by Charles Gasparino of Fox Business, BlackRock CEO Larry Fink stated that his company aims to democratize Bitcoin and the broader crypto market and make it easier and cheaper for investors to explore this asset class. Fink added that he saw the potential in Bitcoin to revolutionize the financial world by symbolizing assets and securities. He also described BTC as digital gold and compared it to gold in the context of inflation hedging.
We hope that as in the past, one day we can work with our regulators and get the application approved, and I have no idea what that day will be, but we’ll see how that all plays out.
Larry Fink, CEO of BlackRock Inc.
Larry Fink also revealed that his $8.5 trillion asset management giant was working closely with regulators in the United States to seize the opportunity presented by Bitcoin. BlackRock’s application to offer a spot BTC ETF was recently rejected by the Securities and Exchange Commission. According to Fink, the securities regulator should view the ETF filing as a way to democratize crypto. His latest comments on Bitcoin were the opposite of his stance in 2017, when he described BTC as a tool for money laundering and other illegal activities.