BlackRock's Larry Fink says he was wrong, calls Bitcoin digital gold

BlackRock, the world’s biggest hedge fund, currently has $10.6 trillion in assets under management and the largest Bitcoin investment fund.

During a recent CNBC interview, CEO of BlackRock, Larry Fink, said he was “wrong” about Bitcoin before calling the decentralized asset “digital gold” and a “legitimate” financial instrument.

The head of the $10.6 trillion asset management firm told CNBC’s Jim Cramer “I was a skeptic, a proud skeptic” before studying the nascent asset and changing his mind about Bitcoin (BTC).

Fink then touched on the deteriorating economic and political situation in some countries and the potential for Bitcoin to give individuals in those societies an option of investing in something beyond their geographies.

BlackRock, the world’s biggest hedge fund, currently has $10.6 trillion in assets under management and the largest Bitcoin investment fund.
During a recent CNBC interview, CEO of BlackRock, Larry Fink, said he was “wrong” about Bitcoin before calling the decentralized asset “digital gold” and a “legitimate” financial instrument.The head of the $10.6 trillion asset management firm told CNBC’s Jim Cramer “I was a skeptic, a proud skeptic” before studying the nascent asset and changing his mind about Bitcoin (BTC).Fink then touched on the deteriorating economic and political situation in some countries and the potential for Bitcoin to give individuals in those societies an option of investing in something beyond their geographies.Read more