'Bitcoin is an international asset' - BlackRock CEO's Optimistic Comment

Larry Fink, CEO of BlackRock, made pro-crypto comments amid the asset manager's application to list a spot Bitcoin exchange-traded fund (ETF) in the United States.

Speaking on Fox Business on July 5, Fink said the role of cryptocurrencies is largely “digitalizing gold,” suggesting that U.S. regulators consider how an ETF links directly to Bitcoin. BTC

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finance can be democratized. During his time at BlackRock, Fink often commented on major events affecting the crypto space, including the demise of FTX in 2022 and growing interest in BTC.

Fink said: “Let's be clear: Bitcoin is an international asset. “It is not based on any currency and therefore it can represent an asset that people can play as an alternative.”

Fink suggests that investors could turn to Bitcoin as a hedge against inflation or the devaluation of certain currencies. As the CEO of the world's largest asset manager, with over $9 trillion in assets under management as of April, Fink's pro-crypto sentiment could generate ripples in and out of space.

Under Fink, BlackRock attempted to launch a spot BTC ETF with crypto exchange Coinbase acting as a custodian partner. It is unclear whether the Securities and Exchange Commission will approve the investment vehicle, given its track record of rejecting all previously submitted spot BTC ETF applications to date.