1. BITBILIHome
  2. Article

BlackRock CEO Larry Fink believes crypto, specifically Bitcoin, could revolutionize finance

• 64 views

TL;DR Breakdown

  • BlackRock CEO Larry Fink believes that cryptocurrencies, particularly Bitcoin, have the potential to revolutionize the financial system by tokenizing assets and securities.
  • BlackRock’s iShares unit has filed for a spot Bitcoin exchange-traded fund (ETF), but Fink did not provide a timeline for regulatory approval.
  • Fink refers to Bitcoin as “digital gold” and suggests it can be an alternative investment to hedge against inflation and country-specific challenges.

Description

In an interview with FOX Business on Wednesday, BlackRock CEO Larry Fink expressed his belief in the transformative potential of cryptocurrencies, particularly Bitcoin. Fink, who was previously known for his skepticism towards crypto, acknowledged that the tokenization of assets and securities, which Bitcoin represents, could revolutionize the financial system. He highlighted the international nature of … Read more

In an interview with FOX Business on Wednesday, BlackRock CEO Larry Fink expressed his belief in the transformative potential of cryptocurrencies, particularly Bitcoin. Fink, who was previously known for his skepticism towards crypto, acknowledged that the tokenization of assets and securities, which Bitcoin represents, could revolutionize the financial system. He highlighted the international nature of Bitcoin, emphasizing its ability to serve as an alternative investment.

Shifting perceptions and BlackRock’s involvement

Fink’s newfound optimism comes as BlackRock’s iShares unit filed paperwork with the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin exchange-traded fund (ETF).

While BlackRock has a strong track record of securing SEC approval for its ETFs, Fink did not provide a timeline for the decision on the Bitcoin ETF filing. He expressed hope for a collaborative approach with regulators to obtain approval but acknowledged that the timeline remains uncertain.

Fink said: “We aim to collaborate with regulators to have the filings approved one day. However, I am uncertain about the exact date the filings will be approved, but let’s see how things unfold.”

Despite Fink’s bullish stance, the market reaction to his comments has been subdued, with Bitcoin trading relatively unchanged at just under $31,000.

Cryptocurrency as the “digital gold”

During the interview, Fink referred to cryptocurrencies as “digital gold” and highlighted Bitcoin’s potential as a digital asset. He proposed that Bitcoin could substitute traditional investments in physical gold, acting as a hedge against inflation and the challenges associated with specific countries or currency devaluation. Fink’s perspective suggests a growing recognition of cryptocurrencies’ unique properties and value propositions within the investment landscape.

Gold has long been viewed as a haven investment, hedging against economic uncertainties. However, the emergence of cryptocurrencies, with Bitcoin at the forefront, challenges traditional notions of alternative investments.

With a current price of $30,628.84 and a market cap of $594,856,453,544, as of the time of writing, Bitcoin has established itself as the leading cryptocurrency in terms of market value. The increasing adoption and acceptance of digital assets are redefining the investment landscape and prompting institutional players like BlackRock to explore crypto-related offerings.

The future of crypto and regulatory considerations

Fink’s endorsement of crypto and BlackRock’s pursuit of a Bitcoin ETF highlight the evolving dynamics within the financial industry. As institutional players recognize the potential of cryptocurrencies, the regulatory landscape surrounding digital assets becomes increasingly relevant. The outcome of BlackRock’s ETF filing and its collaboration with regulators is expected to shape the future of crypto-related financial products.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:BlackRock CEO Larry Fink believes crypto, specifically Bitcoin, could revolutionize finance

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月8日 05:57
Next 2023年7月8日 06:41

Related articles

  • Microsoft president proposes KYC to combat AI misuse

    TL;DR Breakdown Microsoft president Brad Smith has proposed the use of KYC to combat AI misuse. Global AI challenges and proactive solutions. Description In an appearance before the U.S. Senate Committee on the Judiciary, Microsoft President Brad Smith discussed the role of Know Your Customer (KYC) policies in bolstering national security amid growing concerns about the misuse of artificial intelligence (AI) by foreign actors. Smith emphasized the importance of KYC policies, which have long been standard practice in … Read more In an appearance before the U.S. Senate Committee on the Judiciary, Microsoft President Brad Smith discussed the role of Know Your Customer (KYC) policies in bolstering national security amid growing concerns about the misuse of artificial intelligence (AI) by foreign actors. Smith emphasized the importance of KYC policies, which have long been standard practice in traditional finance, as a means to enhance accountability and mitigate AI-related threats. Smith underscored Microsoft’s advocacy for KYC policies within the AI industry. Microsoft wants to help AI service providers The Microsoft president also asserted that they could help AI service providers identify and…

    Article 2023年9月14日

  • Kevin O’Leary says more US banks will fail – His reasons are convincing

    TL;DR Breakdown Kevin O’Leary predicts that more regional U.S. banks will fail due to the cycle of Federal Reserve rate hikes. Despite a cooled off inflation, the Fed’s rates are continually rising, which O’Leary compares to incessantly squeezing a toothpaste tube until it breaks. Description A startling revelation from the discerning business mogul Kevin O’Leary has sent ripples across the financial sector. With his prediction that the incessant cycle of Federal Reserve rate hikes is poised to push more U.S. regional banks into the murky waters of failure, it’s time to buckle up and take heed. As a shrewd investor … Read more A startling revelation from the discerning business mogul Kevin O’Leary has sent ripples across the financial sector. With his prediction that the incessant cycle of Federal Reserve rate hikes is poised to push more U.S. regional banks into the murky waters of failure, it’s time to buckle up and take heed. As a shrewd investor and one who doesn’t mince words, O’Leary’s argument holds a convincing weight that we ought to consider critically. O’Leary brings up the…

    Article 2023年7月28日

  • China’s CBDC adoption hits a new milestone figure

    TL;DR Breakdown China’s CBDC adoption has hit a new milestone as adoption continues. PBoC lays out a strategic plan to increase participation and adoption. Description China’s central Bank digital currency (CBDC), also known as e-CNY, has achieved significant milestones in terms of transactions and circulation, as disclosed by People’s Bank of China (PBOC) Governor Yi Gang. In a lecture organized by Singapore’s central bank, the Monetary Authority of Singapore (MAS), Yi revealed that e-CNY transactions surpassed 1.8 trillion yuan ($250 … Read more China’s central Bank digital currency (CBDC), also known as e-CNY, has achieved significant milestones in terms of transactions and circulation, as disclosed by People’s Bank of China (PBOC) Governor Yi Gang. In a lecture organized by Singapore’s central bank, the Monetary Authority of Singapore (MAS), Yi revealed that e-CNY transactions surpassed 1.8 trillion yuan ($250 billion) at the end of June, a substantial increase from around 100 billion yuan recorded in August of the previous year. China’s CBDC transactions hit $250 billion in June According to the PBOC governor, the total amount of e-CNY in circulation reached…

    Article 2023年7月24日

  • Ripple gears up for response as SEC plans appeal in ongoing legal battle

    TL;DR Breakdown Ripple Labs’ legal battle with the SEC gains attention, focusing on the upcoming appeal. Ripple’s General Counsel asserts that SEC’s appeal in the XRP case is unwarranted. Urgency surrounds the appeal process, potentially altering the Ripple v. SEC case trajectory. Description Ripple Labs Inc.’s ongoing legal battle against the United States Securities and Exchange Commission (SEC) has captured widespread attention within the past day. The focus now shifts to the SEC’s plan to appeal, spurred by their interlocutory request, igniting fresh sparks in this high-stakes confrontation. Stuart Alderoty, Ripple’s General Counsel, has revealed that the company … Read more Ripple Labs Inc.’s ongoing legal battle against the United States Securities and Exchange Commission (SEC) has captured widespread attention within the past day. The focus now shifts to the SEC’s plan to appeal, spurred by their interlocutory request, igniting fresh sparks in this high-stakes confrontation. Stuart Alderoty, Ripple’s General Counsel, has revealed that the company is poised to respond to the impending appeal within the coming week. Alderoty has taken a bold stance, asserting that the SEC’s pursuit of…

    Article 2023年8月10日

  • Top global firms react to the state of China’s economy

    TL;DR Breakdown Global corporations exhibit caution in dealing with China’s frail economic recovery post-pandemic. Mixed corporate responses highlight the varied impacts of the country’s economic conditions across sectors. The slower growth rate and ‘tortuous’ recovery path raise concerns. Description A flimsy recovery from the global pandemic has marked China’s economy with uncertainty. This precarious situation has elicited an array of responses from global corporations, spanning sectors from finance to technology. Navigating these choppy economic waters, international firms are embracing caution, particularly in their dealings with the world’s second-largest economy. Mixed responses to China’s economic … Read more A flimsy recovery from the global pandemic has marked China’s economy with uncertainty. This precarious situation has elicited an array of responses from global corporations, spanning sectors from finance to technology. Navigating these choppy economic waters, international firms are embracing caution, particularly in their dealings with the world’s second-largest economy. Mixed responses to China’s economic state The corporate world’s apprehensions are well-justified. For instance, Citigroup has expressed its disappointment as China’s growth rate slackened, following a fleeting surge after reopening. Likewise, Dow Inc.,…

    Article 2023年7月26日
TOP