The CEO of the world’s largest asset manager says he sees Bitcoin (BTC) as a worthy long-term store-of-value asset.
In a new interview on FOX circulating on the social media platform X, BlackRock CEO Larry Fink says there are a number of potential use cases for the flagship cryptocurrency, including cross-border transactions and a hedge against overreaching governments.
“There’s a lot of merit to it, there’s a lot of opportunity. It is a great store [of value]…It can be an asset that can be cross-border…
Maybe this is one of the reasons why China has banned it. If you’re in a country where you’re fearful of your future, fearful of your government or you’re frightened that your government is devaluing its currency by too much deficits, you could say this is a great potential long-term store of value.”
Fink also says Bitcoin is digital gold with practical uses.
“It’s like digital gold and I believe that you still can buy a slice of pizza with it, but you can’t buy a slice of pizza with palladium or gold. You could buy and sell your Bitcoin, no different than gold…
It is a ledger, but it’s an international ledger. It’s cross-border. It’s bigger than any government.”
In a newly amended filing with the U.S. Securities and Exchange Commission (SEC), BlackRock says its Global Allocation Fund may buy shares of Bitcoin exchange-traded products (ETPs), including the company’s own iShares Bitcoin Trust (IBIT).
At time of writing, Bitcoin is trading at $68,345.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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