BlackRock CEO: Bitcoin is a Legitimate Financial Instrument

BlackRock co-founder and CEO Larry Fink called Bitcoin a "legitimate class of financial assets" for those seeking financial control outside traditional systems.

Just a few years ago, Fink was skeptical about cryptocurrencies, but over time he changed his mind. Now he views Bitcoin as digital gold and notes its important role as a protective asset amid geopolitical instability and the devaluation of national currencies.

"I was a skeptic. But I studied Bitcoin and now I'm glad that my opinion five years ago was wrong," said the CEO of the asset management company.
Fink considers Bitcoin an excellent investment tool "in times of growing fear." People see that the flagship cryptocurrency offers an opportunity to invest in something that is not controlled by any authority.
Last week, the net inflow of capital into 11 spot Bitcoin ETFs amounted to $1.44 billion. Since their launch, BTC-based exchange-traded products have received over $17.8 billion.

BlackRock's spot Bitcoin ETF IBIT has become the largest exchange-traded fund based on the leading cryptocurrency. It now manages assets worth over $18.44 billion.