BlackRock CEO: Bitcoin is an asset class like gold

-

Larry Fink declared that Bitcoin is an asset class, comparing its investment potential to gold.

In a recent earnings call, Fink stated that the world’s largest asset manager now sees Bitcoin as an alternative to traditional commodities.

Bitcoin’s growing recognition

“We believe Bitcoin is an asset class in itself. It is an alternative to other commodities like gold.”

Fink mentioned that BlackRock is actively discussing how to allocate Bitcoin with global institutions, and pointed out that the future success of digital assets will depend not just on regulations but also on liquidity and transparency.

He likened the current state of virtual assets to the $11 trillion mortgage market, suggesting that while crypto is still young, it has the potential for huge growth as better data and analytics become available.

“We’ve seen this before with the mortgage and high-yield markets. It started slow, but as better analytics and data were introduced, the market gained broader acceptance.”

Digital currencies and new technologies

Fink also discussed the digitization of national currencies, specifically mentioning the possible introduction of a digital U.S. dollar.

He pointed to successful examples in countries like India and Brazil that have adopted similar technologies.

Next to this, he believes that integrating artificial intelligence and improved data analytics could help expand and increase acceptance in digital asset markets.

The spot Bitcoin ETFs saw a significant influx of investments in the past days.

On October 14, one of the strongest days for these financial products since their launch in January, spot Bitcoin ETFs attracted $555.9 million in new capital.

BlackRock’s own IBIT ETF received $79.5 million, ranking third behind Fidelity’s FBTC, which led with $239.3 million, and Bitwise’s BITB, which pulled in $101.1 million.

Ways of success

BlackRock’s support for Bitcoin has been quite important in the crypto space. In January, it launched a spot Bitcoin ETF that helped push the cryptocurrency’s price to new highs, and the firm repeated this success in July by introducing a spot Ethereum ETF.

Although this new ETF attracted smaller inflows compared to its Bitcoin counterpart, BlackRock still views it as a moderate success.

Have you read it yet? Robert Kiyosaki promotes alternative investments, instead of dollar

LATEST POSTS

Swiss National Bank Firmly Rejects Bitcoin Reserve Proposal Despite Crypto Industry Pressure

The Swiss National Bank rejected a proposal to add Bitcoin to its reserves, citing stability, liquidity, and security concerns. At a shareholder meeting in Bern...

Nigerian Court Orders Arrest of CBEX Promoters in ₦1 Billion Crypto Fraud Case

A Federal High Court in Abuja approved the Economic and Financial Crimes Commission’s (EFCC) request to arrest six individuals involved with Crypto Bridge Exchange (CBEX)....

Bitcoin’s next big move is the $100K?

Bitcoin’s been playing a wild game lately, huh? One minute it’s down, the next it’s back up like a stubborn street fighter who just won’t...

Bitcoin whales feast while retail panics

You ever get the feeling you’re watching a rerun, but the stakes just keep getting higher? That’s Bitcoin right now. The exchanges are looking more...

Most Popular

Guest posts