Larry Fink Called Bitcoin "Digital Gold" and Called for Investing in the Asset
Date: 2024-07-16 Author: Henry Casey Categories: CRYPTO PAYMENTS
BlackRock CEO Larry Fink shared his opinion on the prospects of the first cryptocurrency, calling Bitcoin “digital gold.” He is confident that Bitcoin is ideal for long-term investment, and his words have found support among other famous entrepreneurs.
Words of Support from Influential Leaders
Larry Fink, the head of the world's largest investment company BlackRock, said in a recent speech that Bitcoin is a digital analogue of gold. In his opinion, the first cryptocurrency has enormous potential and is “absolutely” worthy of investors’ attention. Fink noted that Bitcoin is a viable asset with wide application possibilities.
"As you know, I was a 'proud skeptic'. However, I have studied the topic and have come to the conclusion that my opinion five years ago was wrong. I now believe that Bitcoin is a legitimate financial instrument," the BlackRock CEO said.
Interestingly, Larry Fink was previously skeptical of crypto assets and Bitcoin in particular. However, his opinion changed after studying the topic more deeply. Now he sees in Bitcoin an alternative opportunity for saving and increasing investors' capital.
Support from Famous Entrepreneurs
Larry Fink's words found support among well-known supporters of the first cryptocurrency. Dell founder Michael Dell called Bitcoin "exciting" when commenting on Fink's remarks. MicroStrategy co-founder Michael Saylor also supported the BlackRock CEO's words by reposting Dell's post.
As of this writing, Bitcoin continues to recover from a significant correction last week. The cost of the first cryptocurrency is at $63,336, according to TradingView, and the market capitalization of the asset is $1.25 trillion.
Examples of Successful Initiatives
It is worth noting that BlackRock's interest in crypto assets is not limited to just the words of Larry Fink. BlackRock's BUIDL tokenized treasury fund recently raised over $500 million, demonstrating growing interest and confidence in digital assets among institutional investors.
Larry Fink's talk about Bitcoin as "digital gold" and his call to invest in this asset highlight the importance and potential of cryptocurrency in the modern financial world. Support from other influential leaders only strengthens this position, and current market performance confirms the promise of Bitcoin as an investment tool.
Investing in cryptocurrencies carries certain risks, and every investor should carefully research the market and consult with financial experts before making decisions. However, the words of Larry Fink and support from other prominent entrepreneurs indicate that Bitcoin could become an important part of the future of the financial world.
