In a recent interview, BlackRock CEO Larry Fink expressed his revised perspective on Bitcoin, referring to it as “digitalizing gold.” Fink acknowledged that while he had previously labeled Bitcoin as an “index of money laundering,” he now believes it serves a role similar to gold in terms of being a hedge against inflation and the devaluation of national currencies. According to Fink, Bitcoin functions as an international asset.
These remarks from the billionaire CEO were made during a Fox Business interview, coinciding with BlackRock‘s recent application to the U.S. Securities and Exchange Commission for a spot Bitcoin ETF. This move by the world’s largest asset manager prompted other issuers to follow suit, resulting in a surge in Bitcoin’s price, reaching over $30,000. Notably, Bitcoin’s value has risen by more than 12% in June alone and has gained over 80% year-to-date.
Nasdaq has resubmitted BlackRock’s application, including additional details indicating that Coinbase Global Inc. will oversee market surveillance for the proposed product. Fink emphasized the importance of hearing from U.S. regulatory bodies such as the Securities and Exchange Commission regarding the matter.
