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BlackRock CEO Larry Fink Endorses Bitcoin as 'Digital Gold', Boosts Record $10.6T AUM with Bitcoin ETF

Jul 15, 2024, 05:13 PM

Larry Fink, CEO of BlackRock, has publicly shifted his stance on Bitcoin, now endorsing it as a legitimate asset class and a hedge against currency debasement. Fink, who oversees a record $10.6 trillion in assets, had previously been a skeptic but now views Bitcoin as 'digital gold.' This endorsement from a major financial figure has garnered significant attention, including from Michael Dell, who shared a video of Fink's statements. Dell described Fink's comments as 'fascinating,' further fueling speculation about the growing acceptance of Bitcoin among prominent business leaders. BlackRock's support, along with other legacy firms like Fidelity, is seen as a significant boost for Bitcoin's credibility in mainstream financial portfolios. Additionally, BlackRock's Bitcoin ETF has contributed to the firm's record assets under management.