BlackRock CEO: Crypto Will Transcend International Currencies

Joshua Ramos
Source: Fox Business

In an appearance on CNBC, BlackRock CEO Larry Fink says crypto will transcend international currencies due to its worldwide demand. Moreover, Fink described crypto as an “international asset” that has a “differentiating value versus other asset classes” while speaking of the opportunity and interest in the crypto sector.

Earlier this month, Fink told Fox Business that crypto was “digital gold,” once again referring to the international appeal of Bitcoin. Subsequently, the statements arrive amidst BlackRock’s filings for the creation of the first Spot Bitcoin ETF in the country.

Also Read: BlackRock Spot Bitcoin ETF Could Bring $30 Trillion in Capital

BlackRock CEO Speaks on Crypto’s Transcendent Potential

The digital asset industry was surprised earlier this month when a host of traditional finance entities sought entry into the market. Specifically, traditional finance firms had filed for approval for Spot Bitcoin ETFs, led by asset management giants BlackRock and Fidelity. Now, the former’s CEO is speaking out about the industry and its immense potential.

Speaking to CNBC, BlackRock CEO Larry Fink said that crypto will transcend international currencies due to its global demand. Although he was prohibited from speaking about Bitcoin directly, Fink spoke glowingly about the potential that digital assets hold for finance.

Source: Financial News London

Also Read: BlackRock Bitcoin ETF Filing A “Moment of Validation”

“We believe we have a responsibility to democratize investing,” Fink said. “The role of ETFs in the world is transforming investing… and we’re only at the beginning of that.” Thereafter, Fink spoke about the pivotal role that Gold ETFs played in the investment of that asset. Noting particularly how it brought down the price while standing his hopes for a similar outcome with crypto.

“Over the last five years, more and more, our global investors are asking us about the role of crypto,” before calling crypto an “international asset.” Ultimately, stating that its international demand will allow it to “transcend any one current evaluation.” Once again affirming the asset’s worldwide appeal.