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BlackRock CEO Stands Up for Bitcoin

The CEO of BlackRock defends Bitcoin

Larry Fink, CEO of BlackRock, has recently come to the defense of Bitcoin, presenting it as a means to protect against authoritarian governments and economic manipulation.

During a media tour, Fink highlighted Bitcoin as a potential store of value, particularly in countries where citizens fear government instability or currency devaluation.

“Let’s be clear: if you’re in a country where you’re afraid of your government […] if you’re in a country where you’re afraid of your future, or you’re afraid your government is going to devalue its currency […] you could say it’s a great long-term store of value.”

Fink stated

The evolution of Fink’s perception of Bitcoin

This stance in favor of Bitcoin marks a radical shift from his 2017 statement where he referred to BTC as a “money laundering index.”

Fink admitted that his view of Bitcoin began to change about three years ago, during the pandemic, recognizing both the risks and opportunities offered by the cryptocurrency.

He emphasized that Bitcoin has become more legitimate, especially with the introduction of Bitcoin ETFs, which contribute to its security and recognition in the financial sector. Fink also expressed his interest in an Ethereum ETF, seeing it as a “first step towards tokenization.”

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