As you know, I was a skeptic. I was a proud skeptic; five years ago my opinion was proven wrong.
I believe in the possibilities and I believe #bitcoin is legitimate, Fink said in response to a question from Jim Cramer, one of the show's hosts. Fink added that he's not trying to say that it's not emissions like everything else, but that bitcoin is a legitimate financial instrument and can generate revenue that is not correlated to the rest of the market.
Some countries are or have been in the process of devaluing their currencies due to excessive budget deficits. There are countries that are concerned about their daily survival, and being able to invest in areas outside of government control will give them more economic control.
Mr. Fink also expressed his belief that bitcoin is an asset class that everyone should look at. He reiterated that he sees cryptocurrencies as "digital gold" and even mentioned that bitcoin has an industrial application that many people overlook.
#BlackRock was a major force behind the approval of spot exchange-traded funds (ETFs) for bitcoin and #BinanceTurns7 in the U. S. , and despite a decade-long effort by other prominent players, the emergence of the world's largest asset manager was the final push the SEC needed to make concessions.
Read us at: Compass Investments
