Summary
- BlackRock CEO Larry Fink said he has withdrawn his previous skeptical stance on Bitcoin (BTC).
- Fink mentioned Bitcoin as a means of portfolio diversification and compared it to gold.
- The remarks increase the potential for market interpretation as they align with institutional investors' changing perceptions of Bitcoin.
Larry Fink, BlackRock Chief Executive Officer (CEO), has withdrawn his previously skeptical stance on Bitcoin (BTC) and said his initial view was wrong. He mentioned Bitcoin from the perspective of portfolio diversification at a DealBook Summit press conference and compared it to gold.
This remark is noteworthy because the head of BlackRock, one of the world's largest asset managers, publicly revised his perception of Bitcoin.
On the 3rd (local time), virtual asset (cryptocurrency) specialist media CryptoBriefing reported that Fink had shown a negative view of Bitcoin in the past, but directly cited reasons for his change of stance in recent remarks.
According to the outlet, Fink said at the DealBook Summit press conference, "My initial view on Bitcoin was wrong." He explained that Bitcoin could serve as a means of portfolio diversification and presented gold as a point of comparison.
The remarks by the BlackRock CEO align with a trend of changing perceptions of Bitcoin among institutional investors. In particular, the fact that statements were made redefining Bitcoin's role from being merely a speculative virtual asset to a role viewed from a portfolio perspective creates room for market interpretation.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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