BlackRock CEO Larry Fink has commented on crypto amid U.S. filings for a spot Bitcoin exchange-traded fund (ETF).
“Bitcoin is an international asset,” Fink said. “It is not dependent on one currency. So it can represent an asset that people can use as an alternative.”
As the CEO of the world’s largest asset management firm, Fink advises investors to turn to Bitcoin as a hedge against inflation or depreciation of certain currencies. With more than $9 trillion in assets under management as of April, Fink’s faith in crypto can make waves both locally and internationally.
Many of the crypto community on social media reacted positively to Fink’s interview, including some.suggested thatHis words may cause the price of some assets to skyrocket. Calling this the “Fink Pump,” BTC is currently at $30,473 at the time of writing, down about 1% in the previous 24 hours.
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