Fink rules out that the expansion of the use of bitcoin has to do with regulatory issues. In the businessman's opinion, “we will see an expansion of the digital asset market.” Larry Fink, CEO of BlackRock, the largest asset management company in the world, recently assured that the expansion of bitcoin (BTC) will not depend on who wins the next presidential election in the United States. During a call to discuss BlackRock's third-quarter 2024 financial results, Fink noted, «I'm not sure any of the presidents or other candidates will make a difference.» Instead, he said that the use of digital assets “is going to be increasingly a reality around the world.” With three weeks left until the US presidential election, where there is uncertainty about the result, Fink suggested that both Donald Trump, who has shown openness towards the bitcoin and cryptocurrency ecosystem, and Kamala Harris, with a more cautious stance; they will not change the course BTC is taking.
Fink specified that “bitcoin is an asset class in itself,” positioning it not only as a digital currency, but as a viable alternative to other commodities such as gold.
“Bitcoin is an alternative to other commodities like gold, so I think the application of this form of investment will expand to cerium's role as a blockchain that can grow dramatically.” Larry Fink, CEO of BlackRock.
When talking about regulation, Fink was clear: “So, if we can create more acceptability, more transparency, more analysis related to these assets, then it will expand. And I really don't think it's a function of regulation, more regulation, less regulation. I think it is a function of liquidity, transparency.” He compared the adoption of bitcoin to the evolution of other financial markets, such as mortgage and high-yield markets, which were built “as we built better analytics and data, and then you got more acceptance and a broadening of the market.” “And I really think we will see an expansion of the market for these digital assets,” Fink explained. Fink is not new to showing his confidence in bitcoin. Last July, he admitted to having previously underestimated bitcoin, recognizing its potential, as reported by BitcoinDynamic. Last year, Fink assured that bitcoin “will transcend any currency,” and mentioned BlackRock's interest in launching a bitcoin price exchange-traded fund (ETF), working with regulators to ensure its safe involvement in the market. as this media also reported. BlackRock, with asset management exceeding USD 10 trillion (trillions), is not only one of the largest financial entities in the world, but also plays a crucial role in the bitcoin ecosystem through its ETF , issued last January 10. Fink's defense and BlackRock's involvement in bitcoin are significant, given that their participation can attract greater legitimacy and investment flow into digital assets, potentially accelerating its global adoption.
This article was created using artificial intelligence and edited by a human Editor.