BlackRock, the world’s largest asset manager with nearly $9 trillion in assets under management, has made great strides toward embracing bitcoin, as evidenced by its recent filing of a bitcoin spot exchange fund. The company’s decision to take steps to provide its clients with digital asset exposure is likely to lead to an increase in institutional adoption to the space.
The company also recently They resubmitted their files After the SEC responded that initial filings required more information regarding the exchange in question, Coinbase then added the filing, as did other companies.
And now, BlackRock CEO Larry Fink has appeared on Fox Business where he is advertiser The role of Bitcoin and cryptocurrency is to “digitize gold”.
“Instead of investing in gold as a hedge against inflation…or devaluing your currency…(bitcoin) can represent an asset that people can play as an alternative,” Fink stated. The description reinforces the perception of bitcoin as a store of value, similar to the role gold has traditionally played in investment portfolios. By likening Bitcoin to gold, Fink acknowledges the international nature of the digital asset, highlighting its potential as a global store of wealth — and in fact, during his news appearances, Fink also emphasized that “Bitcoin is an international asset.”
The televised statement underscores Fink’s conviction, and possibly BlackRock’s, belief in bitcoin and its potential role in the future. Fink’s recognition of bitcoin’s international appeal strengthens the case for increased institutional interest and investment.
BlackRock’s pursuit of a Bitcoin ETF and Fink’s endorsement of bitcoin as digitized gold reflect a significant shift in the attitude of major financial institutions toward bitcoin. These developments indicate that BlackRock, along with other industry giants, recognizes Bitcoin’s potential to reshape the financial landscape.