Bitcoin Could Revolutionize Finance, Says BlackRock CEO

Larry Fink, CEO of BlackRock, an American multinational investment firm, has expressed his thoughts on cryptocurrencies, particularly Bitcoin (BTC).

On Wednesday, during the interview with Fox Business, Larry affirmed his support for the industry and spoke actively as an individual and sole representative of his organization.

He stated, We do believe that if we can create more tokenization of assets and securities, which is exactly what Bitcoin is, it could revolutionize finance."

On his stance on gold, the businessman advised that instead of investing in gold as protection in times of inflation, Bitcoin as an international asset would be preferable.

To Larry, Bitcoin is independent of any country's currency, not bound or devalued in any way to any country's economy, so it can serve as a good asset representation for people to rely on.

Larry's Initial Stance on Cryptocurrencies, Especially Bitcoin

Following Larry Fink's recent statement on Bitcoin and general cryptocurrencies, some listeners are bugged with controversial questions.

Years ago, the BlackRock CEO was known to be skeptical of crypto and highly suggested that community members employ its assets for illegal activities.

In direct words that have taken a toll on him, he referred to Bitcoin as an index of money laundering.'Those words resounded throughout the crypto space and were in almost every news publication 2017.

With his recent words on the net, there are random thoughts on which side of him should be believed. Larry remains a figurehead in the digital world, often dropping his opinions on popular topics of interest.

In 2022, amidst the crisis that plagued several crypto companies, he was one of the high-ranking individuals who contributed one cent.

For the many that cared to listen, Larry thought that most firms that were into crypto would not survive the wake of Bankman Fried's FTX collapse.

However, more recently, the crypto industry started to see more of Fink's contributions, with the investor's company filing for ETFs occasionally with the U.S. Securities and Exchange Commission (SEC).

BlackRock's Recent ETF Request

A unit of BlackRock referred to as iShares, usually in charge of their Exchange Traded Funds (ETFs), has recently filed paperwork for a spot bitcoin ETF.

The paperwork submitted on June 14 was to have access to fund assets that will consist primarily of bitcoin held by a custodian on behalf of the Trust."

The firm's custodian for the ETF was Coinbase, one of the exchange organizations that was sued by the SEC a few months ago.

Most members in the space think that approving the request from BlackRock might be difficult, seeing that previous requests from other firms have been rejected.

However, the CEO is confident that the SEC will approve the request. Notably, BlackRock has the capital and influence, being one of the largest asset investment firms in the US.

Time will tell if BlackRock's reach in the financial market will move the hands of the SEC to approve its Bitcoin Spot ETF filing as many anticipate.

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