The number of BlackRock executives speaking highly of Bitcoin has just doubled with the CEO of the world’s largest asset manager. Larry Fink recently said that the leading cryptocurrency, Bitcoin, had caught many people’s attention, and it could evolve into a global market. Three years after bashing Bitcoin, BlackRock’s CEO has changed his stance, arguing that the cryptocurrency could threaten the US dollar. Following Bitcoin’s impressive rally that resulted in painting a fresh all-time high on some crypto exchanges, the asset has garnered mass attention once again.
Larry Fink changes his mind about bitcoin.
According to the CNBC report, BlackRock’s Chief Executive Officer seems to be the latest personality to change his mind about bitcoin. Earlier in 2017, Larry Fink said that Bitcoin is an “index of money laundering. That’s all it is.” However, it has taken about three years for Fink to change his mind. Speaking to the former Bank of England Governor Mark Carney at the Council of Foreign Regulations, Fink asserted that BTC could evolve into a global market. He stated, “bitcoin has caught the attention and the imagination of many people. Still untested, pretty small market relative to other markets. It sees these big giant moves every day… it’s a thin market. Can it evolve into a global market? Possibly.”
Bitcoin’s price briefly crosses its all-time high.
As reported earlier today, Bitcoin’s price crossed its all-time high above $19,892 on December 1 after three long years. The leading cryptocurrency Bitcoin has made a massive turnaround this year after it plummeted below $4,000 back in March and now reaching an all-time high. BlackRock CEO believes that the primary cryptocurrency existence has a “real impact” on the US dollar. At the time of writing, the leading cryptocurrency is changing hands at just above $19,100.