BlackRock’s Fink calls Bitcoin an ‘asset of fear’, softens crypto stance
BlackRock CEO Larry Fink described Bitcoin as an 'asset of fear' while acknowledging his significant shift toward embracing crypto via their spot Bitcoin ETF.Summary
Speaking at The New York Times’ DealBook Summit, BlackRock CEO Larry Fink discussed the major evolution in his view on cryptocurrency, moving from associating it with illicit activities to launching the largest spot Bitcoin exchange-traded fund (ETF), IBIT. Fink described this change as a "very glaring public example of a big shift in [his] opinions." Despite this institutional embrace, Fink maintained a cautious stance, labeling Bitcoin "an asset of fear" and noting its volatility when reacting to macroeconomic news, such as trade deals or geopolitical events. This contrasts sharply with his 2017 comments where he heavily criticized crypto for facilitating money laundering. BlackRock's IBIT ETF, launched in January 2024, has seen significant success, though it experienced notable net outflows in November.
(Source：Cointelegraph)