Larry Fink is the co-founder of BlackRock and its CEO. He says that Bitcoin has a place in modern investment portfolios.
Fink said in a recent interview with CNBC, that although he used to be a “proud critic” of Bitcoin (BTC), now he believes the crypto-asset is worth investing in.
My opinion from five years back was incorrect. My opinion is that Bitcoins are legitimate. It’s true that there have been some misuses. It is still a valid financial tool that can give you returns .”that are uncorrelated or non-correlated.
Bitcoin, according to BlackRock’s CEO, is a currency.
It’s an instrument you should invest in if you are more scared. You invest when you think that countries debase their currencies by running excessive deficits. Some countries do.
“I believe there are countries in which you feel threatened by your daily existence, but you still have the opportunity to make investments that don’t involve your own country. This will give you more control over your finances.”
BlackRock’s co-founder believes that Bitcoin will become a more popular asset class in the future.
I believe that you will see [Bitcoin] becoming one of the assets that everyone looks at. As I’ve said, I see it as digital currency and believe that everyone should consider it an alternative.
It’s a way to express your financial acumen. You’re afraid of yourself, and you’re scared of the rest of the world. It has a lot of industrial uses, and I think it’s worth exploring. Many people miss that .”
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The post BlackRock’s Larry Fink: Bitcoin (BTC), a Legitimate Investment Offering Uncorrelated Returns, may change as new information becomes available.
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