In a notable statement, BlackRock CEO Larry Fink expressed a positive view on Bitcoin during an interview today with CNBC, stressing that it is “an asset that protects you.”
“I think the number will go up if the world is afraid, and if people have afraid geopolitical risks, they fear their own risks,” Fink said. “It's no different than gold has been for thousands of years. It's an asset class that protects you.”
Fink's recognition of Bitcoin as a protective asset suggests that he is helping change the narrative surrounding the digital currency, focusing on its role as insurance amid economic uncertainty. This endorsement from the head of the world's largest asset management firm is an important milestone for Bitcoin's acceptance in mainstream financial circles.
“Unlike gold, where we are creating new gold, we are almost at the limit of the amount of Bitcoin that can be created,” Fink continued. “What we are trying to do is provide a tool that can store wealth.”
The statement comes just two days after the US Securities and Exchange Commission (SEC) approved BlackRock, along with 10 other asset managers, to launch a Bitcoin exchange-traded fund. Fink's positive sentiment adds to the growing chorus of influencers who recognize Bitcoin's ability to play a protective role in an investment portfolio.
As the Bitcoin market continues to evolve, statements such as these from key industry figures contribute to a positive image around Bitcoin, which may influence broader market sentiment and pave the way for increased adoption.
