Larry Fink, the CEO of BlackRock which is recognized as the world’s largest asset management company, has characterized Bitcoin (BTC) as an international asset and has outlined the potential benefits of crypto while speaking on Fox Business on the 5th of July.

Fink stated that the role of cryptocurrency was mainly “digitalizing gold”.

Here are some further remarks made by the BlackRock CEO when describing how Bitcoin is seen today by investors, institutions and nations:

“Instead of investing in gold as a hedge against inflation, a hedge against the onerous problems of any one country or the devaluation of your currency, whatever country you’re in […], let’s be clear. Bitcoin is an international asset. It’s not based on any one currency, and so it can represent an asset that people can play as an alternative.”

BlackRock’s head also added that the company’s foundation “is about hope” and that people investment for retirement because they believe that “tomorrow is better than today,” which may suggest the significance of crypto – or perhaps, specifically Bitcoin – can represent a trusted asset with value that is built for longevity.

Crypto fanatics, traders and speculators took to social media to react to the bullish remarks made by Fink, with some suggesting the possibility of a BTC price surge in what is regarded as the “Fink Pump”. At the time of writing, the price-tag of Bitcoin was at the $30,473 mark.

Sources:

https://www.coindesk.com/business/2023/07/05/blackrock-ceo-larry-fink-says-bitcoin-could-revolutionize-finance/

https://u.today/blackrock-ceo-says-bitcoin-is-new-gold

https://cointelegraph.com/news/bitcoin-international-asset-black-rock-ceo-bullish-remarks

https://twitter.com/saylor/status/1676687611379826688