In a dramatic shift from his previous stance, Larry Fink, CEO of BlackRock, recently sang a bullish tune concerning Bitcoin and has given it the label of an “international asset.”
BlackRock’s CEO Envisions Bitcoin as an International Asset
Larry Fink, BlackRock’s CEO, has now introduced Bitcoin as an “international asset” in the global financial arena. This stance represents a significant turn-around from comments made in 2017 when Fink touched on Bitcoin’s controversial side – referring to it as a tool for money. Investors across the globe have reacted buoyantly to this new positive sentiment.
Bitcoin as a Hedge against Inflation and Currency Devaluation
In Fink’s new vision, Bitcoin shines brightly as a hedge against inflation and currency devaluation. His recognitions come at a time where the cryptocurrency market continues to display astonishing resilience, further fuelling a rise in its popularity and acceptance among mainstream investors.
A dramatic U-turn from Previous Comments
This shift by Fink represents substantial progress from his previous comments in 2017. The CEO had then criticized Bitcoin, tagging the leading cryptocurrency as an “index of money laundering.” His newly found bullish outlook towards Bitcoin represents a significant win for cryptocurrency supporters, who continue to champion its adoption as a mainstay within international financial markets.
Fink’s remarks further validate Bitcoin’s standing as a legitimate contender in the global market and its potential to outrank assets. His comments also to light the ongoing debates surrounding Bitcoin’s value and its increasing acceptance as an ‘international asset.’
