Larry Fink: New US President Won't Change Bitcoin's Global Reality
BlackRock CEO stressed that bitcoin is an asset class in itself.
- Fink dismisses the idea that the expansion of bitcoin use has anything to do with regulatory issues.
- According to the entrepreneur, “we will see an expansion of the digital assets market.”
Larry Fink, CEO of BlackRock, the world's largest asset management firm, recently said that the expansion of bitcoin (BTC) will not depend on who wins the upcoming presidential election in the United States.
During a call to discuss BlackRock’s third-quarter 2024 financial results, Fink noted , “I’m not sure any of the presidents or other candidates are going to make a difference.” Instead, he said the use of digital assets “is going to become more and more of a reality around the world.”
With three weeks to go until the US presidential election, where there is uncertainty about the outcome, Fink suggested that both Donald Trump, who has shown openness towards the bitcoin and cryptocurrency ecosystem, and Kamala Harris, with a more cautious stance , will not change the course that BTC is taking.
Fink said that “bitcoin is an asset class in itself,” positioning it not only as a digital currency, but as a viable alternative to other commodities such as gold.
Speaking about regulation, Fink was clear: “So if we can create more acceptability, more transparency, more analysis around these assets, then it will expand. And I don’t really think it’s a function of regulation, of more regulation, less regulation. I think it’s a function of liquidity, transparency.”
He compared bitcoin adoption to the evolution of other financial markets, such as mortgages and high-yield, which were built “as we built better analytics and data, and then you got more acceptance and a broadening of the market.”
Fink is not new to showing his confidence in bitcoin. Last July, he admitted to having previously underestimated bitcoin, acknowledging its potential, as reported by CriptoNoticias. Last year, Fink assured that bitcoin “is going to transcend any currency,” and mentioned BlackRock’s interest in launching an exchange-traded fund (ETF) of the bitcoin price, working with regulators to ensure its safe involvement in the market, as also reported by this media.
With over $10 trillion in assets under management, BlackRock is not only one of the largest financial institutions in the world, but also plays a crucial role in the bitcoin ecosystem through its ETF, launched on January 10.
Fink’s advocacy and BlackRock’s involvement in bitcoin are significant, given that their involvement may attract greater legitimacy and investment flows into digital assets, potentially accelerating their global adoption.
This article was created using artificial intelligence and edited by a human on the editorial staff.
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