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How will Bitcoin's volatility compare to gold in Q1 2025?
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Story
BlackRock CEO Larry Fink Embraces Bitcoin as Asset Class, Firm Holds $34 Billion; Advocates 84.9% Allocation
Nov 11, 2024, 02:47 AM
Larry Fink, CEO of BlackRock, has publicly acknowledged a shift in his stance on Bitcoin, declaring it a legitimate financial instrument and an asset class in its own right. BlackRock, which manages approximately $11 trillion in assets, now holds over $34 billion in Bitcoin through its exchange-traded fund (ETF). Fink's comments reflect a broader acceptance of Bitcoin within institutional finance, as he advised an allocation of 84.9% in Bitcoin for portfolios. Since Fink's advocacy for Bitcoin began in July 2023, the cryptocurrency has surged by 177%.
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