Announcements from BlackRock and financial regulatory bodies such as the SEC

BlackRock CEO Larry Fink Declares Bitcoin an Asset Class, Market Cap at $1.3 Trillion

Oct 14, 2024, 07:53 PM

BlackRock CEO Larry Fink has made significant statements regarding Bitcoin, asserting that the cryptocurrency is an asset class in itself. Fink compared Bitcoin to other commodities like gold and mentioned that BlackRock is engaging with institutions worldwide about potential allocations to Bitcoin. This marks a substantial endorsement from one of the world's largest asset management firms, highlighting the growing acceptance of Bitcoin in mainstream financial circles. The US housing market is valued at $49.6 trillion, while Bitcoin's market cap stands at $1.3 trillion.