BLACKROCK finally endorses Bitcoin (and crypto in general) - He sees #BTC as 'digital gold'
In an interview on CNBC on Monday, BlackRock (BLK) CEO Larry Fink had strong words for the crypto market.
"As you know," Fink told CNBC's Jim Cramer, "I was a skeptic [about bitcoin]."
"I was a proud skeptic," Fink added. "And I studied it, learned about it, and I came away saying, 'My opinion five years ago was wrong. Here's my opinion today: I believe in the opportunity today.' I believe bitcoin is legitimate."
For some in the crypto community, these words from the CEO of the world's largest asset manager will be just that: words said by a powerful man in finance. They never needed Fink's, or anyone else's, validation.
For others, these comments are another significant step in bringing bitcoin (BTC-USD) — and cryptocurrencies more broadly — into the same conversation as stocks, bonds, and the other accepted constituents of a balanced portfolio.
Speaking later about bitcoin's role as a hedge against currency debasement and financial instability, Fink added, "I'm a major believer that there is a role for bitcoin in portfolios ... I see it as digital gold."
