- BlackRock CEO Larry Fink was raving about BTC in a recent interview.
- The Spot Bitcoin ETF Asset Manager was reintroduced earlier this week.
- Bitcoin is currently close to 90% compared to the beginning of the year.
Bitcoin made a new 52-week high this morning after Larry Fink – CEO of BlackRock Inc. agreed that it was a valuable international asset.
Fink now based on bitcoin
Fink once called BTC a money laundering index. But in a recent interview with Fox Business, he hailed the world’s largest cryptocurrency by market cap.
I think the role of cryptocurrency is to digitize gold in many ways. Instead of investing in gold as a hedge against inflation or one country’s debilitating problem.
Earlier this week, the asset manager re-applied for a Spot Bitcoin ETF after the US Securities and Exchange Commission sought more clarity on its initial application.
BlackRock Inc. currently has $9.5 trillion in assets under management.
Is a Spot Bitcoin ETF Coming Soon?
Note that BlackRock has a history of obtaining regulatory approval for nearly every exchange-traded fund.
This is significant given that many experts expect the Spot Bitcoin ETF to unlock further upside in Bitcoin. The digital currency is already up nearly 90% for the year at the time of writing.
BlackRock has already made money investing in BTC and expects the crypto asset to grow even more going forward. According to CEO Larry Fink:
BlackRock’s foundation is about hope. You have to retire because you believe that tomorrow is better than today.