BlackRock CEO Larry Fink is "mistaken" about Bitcoin

"Bitcoin just shows how high the demand for money laundering is in the world," Larry Fink said in 2017. Now, several years later, the BlackRock CEO is a fan of BTC.

In a interview with CNBC stated BlackRock CEO Larry Fink is "mistaken" about Bitcoin: "I was a skeptic, a proud skeptic," Fink said. He then studied the largest cryptocurrency in terms of market capitalization and changed his mind.

"Bitcoin is a legitimate financial instrument. [...] It is a tool for people from countries whose currency has been devalued by excessive deficits," explains the 71-year-old.

The BlackRock founder firmly believes BTC should play a role in investment portfolios. "I see it as digital gold," he adds.

It is not surprising that Larry Fink is emerging as a proponent of Bitcoin. After all, BlackRocks iShares Bitcoin Trust (IBIT) is among the most successful ETFs of all time. With inflows of about US$18.3 billion, it has even overtaken the Grayscale ETF (GBTC). As it turns out from data from Apollo.