BlackRock CEO Larry Fink has expressed optimism about the growing demand for cryptocurrencies like Bitcoin among gold investors.
In a recent interview on CNBC, Fink highlighted the increasing interest in crypto over the past five years and its potential to democratize access to both gold and digital currencies through exchange-traded funds (ETFs).
This development coincides with BlackRock’s filing for a spot bitcoin ETF with the SEC, indicating the company’s active involvement in the cryptocurrency market.
Fink discussed the rising curiosity among gold investors about the role of cryptocurrencies. He pointed out the depreciation of the dollar in recent months and the significant appreciation it experienced over the last five years.
According to Fink, an international crypto product has the potential to transcend traditional currency limitations, which is attracting broad-based interest worldwide.
In line with the growing interest in cryptocurrencies, BlackRock filed for a spot bitcoin ETF with the SEC. Fink emphasized that BlackRock’s reputation is crucial, and the company will ensure the safety, soundness, and protection of any new market it enters.
The move towards a bitcoin ETF reflects BlackRock’s commitment to exploring the opportunities presented by the cryptocurrency market.
In a previous statement, Fink referred to cryptocurrency as “digitizing gold.” He emphasized that Bitcoin is an international asset, not tied to any specific currency, making it a compelling alternative investment.
The potential for Bitcoin to represent an asset that people can utilize as an alternative to traditional forms of money is gaining recognition among investors.
BlackRock recently released its second-quarter results, revealing adjusted earnings per share of $9.28 and generating $4.46 billion in revenue. The company’s assets under management have also surged to over $9 trillion, underscoring its significance in the global financial landscape.