Larry Fink, the CEO of BlackRock, the world’s largest asset manager referred to Bitcoin as digital gold in a new interview.
Changing minds
In a CNBC interview, Fink admitted that Bitcoin is a long-term investment with substantial potential.
Once a skeptic, Fink become more optimistic about Bitcoin this year, as his confidence grew big after BlackRock successfully launched its Bitcoin ETF in January.
Speaking with Jim Cramer, Fink repeated his belief in Bitcoin, describing it as digital gold and reflecting on his shift from skepticism to support.
“I used to be a proud skeptic, but after studying and understanding Bitcoin, I realized that my previous views were wrong.”
Not a funny money anymore, right?
Fink now sees Bitcoin as a legitimate financial instrument with real value, especially for those wanting assets outside their country’s financial system. But why it is important, what Fink thinks?
Many criticize Fink and his company for acting as a kind of power player in the investing market, and in the Bitcoin community, they’re also often viewed as the end boss, the final opponent, as they are the direct beneficiaries of the central banks’ money printing policies.
Which is basically true, but in the case of mass adoption, they have an important role.
Influence matters
Millions in the world listen to the words of Fink and experts like him. If he says Bitcoin is digital gold, it is a clear sign for countless people that Bitcoin is indeed a reliable, investable asset.
The sad truth is, masses don’t read Bitcoin blogs. They never took the time to read educational Bitcoin books. They don’t listen to Saylor podcasts.
They never saw a Bitcoin maximalist post on Twitter warning about a possible scam right before it exploded, hurting many victims.
One common view in the Bitcoin community is that Bitcoin already won, as everyone sees what Bitcoiners see.
Unfortunately, almost no one sees what Bitcoiners see, not because Bitcoiners are wrong, but because Bitcoiners are considered as unreliable sources of information for many.
But Fink is considered a reliable source. This is why Fink’s words matter if Bitcoiners want mass adoption.
