TL;DR
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Larry Fink just said crypto is ‘going to transcend any one currency in currency valuation.’
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And when Larry speaks, others listen – he’s the top-dog at the worlds largest asset management group, BlackRock – which holds a cool $9.5 trillion in assets.
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BUT! You should take Larry’s praise with a grain of salt – he’s about to launch a US-based Bitcoin ETF (which will likely attract billions of dollars in investment).
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So while there may be conviction behind his words, he’s going to be singing the industry’s praise regardless (it’s in his interest). Either way, we love to hear it!
Full Story
In today’s “who’s this guy and why do we like what he’s putting down?” news…
Larry Fink just said crypto is ‘going to transcend any one currency in currency valuation.’
And when Larry speaks, others listen – he’s the top-dog at the worlds largest asset management group, BlackRock – which holds a cool $9.5 trillion in assets.
They’re the same folks that are trying to launch that Bitcoin Exchange Traded Fund (ETF) we’ve been harping on about for the past month.
(Which, by the way – is under review again, after being rejected the last time).
Now, here’s why you should take Larry’s praise with a grain of salt…
The dude is about to launch a US-based Bitcoin ETF.
A fund, which (if approved) will likely attract billions of dollars in investment.
So while there may be conviction behind his words, he’s going to be singing the industry’s praise regardless (it’s in his interest).
That said…
We’d be lying if we said that when we first read his statement, we weren’t swaying back and forth, yelling ‘preach, Larry, PREACH!’ (as if listening to a sermon).
…it earned us some strange looks on the subway.
