Larry Fink, CEO of BlackRock, the world's largest asset management company, made important statements about Bitcoin during an interview on Citi's YouTube channel.
Bitcoin as a Hedge Against Currency Devaluation
Fink noted that Bitcoin could serve as an important hedge against currency devaluation. He emphasized that ownership of Bitcoin is often motivated by the desire to protect assets from loss of value.
Change of Opinion on Bitcoin
In the past, Fink was critical of Bitcoin, viewing it solely as a money laundering tool. However, during the COVID-19 pandemic, he recognized the potential of blockchain technology and changed his perspective. In the interview, he stated: "The reason you own Bitcoin is because you're afraid of your currency losing value. Now I too have become a believer."
Impact on Bitcoin Adoption in the Financial World
Support for Bitcoin from prominent figures like Larry Fink could serve as a significant signal for its adoption in the financial industry.
Larry Fink's statements highlight the growing recognition of Bitcoin as an asset capable of providing protection against inflation and currency instability.
