BlackRock CEO Praises Bitcoin for ‘Digitizing Gold’, Says BTC Could ‘Revolutionize Finance’

BlackRock CEO Larry Fink has expressed support for Bitcoin (BTC), referring to it as an “international asset” that could revolutionize finance.

In a recent interview on Fox Business, Fink stated that his company is keen on reducing the cost and complexity associated with investing in Bitcoin.

He said that he believes this move would democratize the cryptocurrency market and make it more accessible for retail investors.

“What we’re trying to do with crypto is make it more democratized with all of crypto and making it much cheaper for investors,” Fink said during an interview on The Claman Countdown.

Following the announcement, several other investment issuers also rushed to file similar applications, triggering a surge in Bitcoin’s price to over $30,000.

The cryptocurrency has already recorded a 12% increase in June alone and an impressive 80% surge since the beginning of the year.

BlackRock’s application was recently refiled by Nasdaq, with additional details indicating that Coinbase will provide market surveillance for the new product.

Fink emphasized the importance of regulatory approval from the Securities and Exchange Commission (SEC), stating that the company wants to work closely with regulators to ensure a smooth launch.

“We look at this as an opportunity,” Fink said. “We work really closely with our regulators.”

Fink also praised Bitcoin for its potential to revolutionize the financial industry, comparing it to “digitizing gold.”

While initially skeptical due to concerns about illicit activities associated with the cryptocurrency, Fink now sees it as a viable alternative asset on a global scale.