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Cryptocurrency News Articles
BlackRock CEO Larry Fink Praises Bitcoin, Draws Parallels to Early Days of Mortgages and High-Yield Markets
Oct 15, 2024 at 08:30 pm
During BlackRock's third-quarter earnings call, CEO Larry Fink articulated a strong endorsement of Bitcoin and digital assets.
BlackRock CEO Larry Fink has expressed strong support for Bitcoin and digital assets during the company's third-quarter earnings call. Fink highlighted Bitcoin's status as an independent asset class, comparing its growth trajectory to that of mortgages and high-yield bonds.
According to Fink, BlackRock is actively engaging with institutions worldwide to discuss digital asset allocation strategies. He anticipates the increasing adoption of digital assets on a global scale.
Drawing parallels to the early stages of the mortgage and high-yield markets, Fink suggests that digital assets are poised for a gradual yet substantial expansion. He emphasizes the crucial role of liquidity, transparency, and advanced analytics in driving this growth, downplaying the significance of regulatory hurdles.
In addition to Bitcoin, Fink specifically mentioned Ethereum and its potential for significant growth in the coming years. He also touched upon the distinct nature of central bank digital currencies and the promising digitization initiatives in countries like India and Brazil.
While acknowledging the upcoming US presidential election, Fink expressed skepticism regarding its direct impact on Bitcoin and the broader crypto market.
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