$8.5T BlackRock CEO Larry Fink Super Bullish on Bitcoin, “Digitalizing Gold”: Will It Drive BTC Price to New ATH of $100,000 in 2023? Report

BlackRock CEO Larry Fink recently expressed his positive views on Bitcoin, emphasizing its international appeal. In a tweet, Fink declared, “#Bitcoin is an International Asset. – Larry Fink, BlackRock CEO.” This statement showcases Fink’s bullish outlook on Bitcoin and highlights his belief in its potential as a valuable digital asset.

#Bitcoin is an International Asset. – Larry Fink, BlackRock CEO pic.twitter.com/WIVKITXYPj

— Michael Saylor⚡️ (@saylor) July 5, 2023

Fink further expounded on his perspective during an interview with Fox Business, suggesting that Bitcoin has the potential to “digitalize gold.” He considers Bitcoin an alternative asset that can transcend borders, making it an attractive investment option. Fink’s endorsement of Bitcoin as an international asset adds to the growing recognition of cryptocurrencies as a viable store of value.

BlackRock’s Pursuit of a Bitcoin ETF

In line with their positive stance on Bitcoin, BlackRock has taken a step towards making cryptocurrency more accessible to investors. The asset management firm has submitted an application for a spot Bitcoin exchange-traded fund (ETF). The objective is to reduce transaction costs and democratize the crypto market, allowing a broader range of investors to participate.

BlackRock’s ETF application is a significant move that aims to bridge the gap between traditional finance and the digital asset space. The ETF, if approved, would create an investment vehicle that provides exposure to Bitcoin without requiring direct ownership of the cryptocurrency. By seeking to lower barriers to entry and transaction costs, BlackRock aims to expand participation in the cryptocurrency market.

Bitcoin: The Digital Gold

Larry Fink’s positive outlook on Bitcoin stems from its potential to serve as a digitalized form of gold. He believes that Bitcoin can act as a hedge against inflation and currency duation, providing investors with an alternative store of value. Fink’s endorsement of Bitcoin’s international appeal and its potential to “digitalize gold” further strengthens the perception of cryptocurrencies as valuable assets.

While Fink’s statements and BlackRock’s pursuit of a Bitcoin ETF have garnered attention, the actual impact on Bitcoin’s price has been limited thus far. As of now, Bitcoin is trading below the $30,500 mark. However, Fink’s endorsement carries weight due to BlackRock’s stature as the world’s largest asset management firm, managing over $9 trillion in assets. It signifies a shifting sentiment within the asset management industry and raises expectations for wider cryptocurrency adoption.

Conclusion

Larry Fink’s optimistic views on Bitcoin, as indicated in his recent tweet, coupled with BlackRock’s application for a spot Bitcoin ETF, illustrate a changing landscape within the asset management industry. Fink’s endorsement of Bitcoin as an international asset and its potential to “digitalize gold” align with the growing interest in cryptocurrencies. If approved, the Bitcoin ETF application could pave the way for increased adoption and potentially drive Bitcoin’s price to new all-time highs in 2023.

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