BlackRock, the world’s largest asset manager with nearly $9 trillion in assets under management, has made significant progress towards bitcoin adoption, as indicated by its recent filing of a US-traded fund. spot bitcoin exchange. The company’s decision to take steps to offer its clients exposure to the digital asset is likely to drive a wave of institutional adoption in the space.
The company also recently returned his case after the SEC responded that the initial filings required more information about the exchanges involved, later adding Coinbase to the filing, as did other companies.
And now BlackRock CEO Larry Fink has made an appearance on Fox Business where he declared that the role of bitcoin and crypto is to “digitize gold”.
“Instead of investing in gold as a hedge against inflation…or devaluation of your currency…(bitcoin) can be an asset that people can play as an alternative,” Fink said. The description reinforces the perception of bitcoin as a store of value, similar to the role gold has traditionally played in investment portfolios. By comparing bitcoin to gold, Fink acknowledges the international nature of the digital asset, highlighting its potential as a global store of wealth – and indeed, during his appearance, Fink further pointed out that “bitcoin is an international asset”.
The televised statement outlines the belief that Fink, and likely BlackRock, have in bitcoin and its potential role in the future. Fink’s acknowledgment of bitcoin’s international appeal further strengthens the case for increased institutional interest and investment.
BlackRock’s pursuit of a Bitcoin ETF and Fink’s endorsement of bitcoin as digitized gold reflect a noticeable change in the attitude of major financial institutions towards bitcoin. These developments suggest that BlackRock, along with other industry giants, recognize bitcoin’s potential to reshape the financial landscape.
