BlackRock CEO Larry Fink has acknowledged Bitcoin as a legitimate financial instrument in an interview with CNBC's Jim Cramer.

"I was a proud skeptic, and I studied it, learned about it, and I came away saying, okay, you know, my opinion [for] five years was wrong," Fink said about his previous skepticism.

Fink emphasized Bitcoin's potential as a hedge against currency debasement: "It is a legitimate financial instrument that allows you to have maybe uncorrelated, non-correlated type of returns."$BTC