BlackRock’s Larry Fink: Bitcoin Is ‘Legitimate Financial Instrument'
Summary
BlackRock CEO Larry Fink has stated that Bitcoin is a legitimate financial instrument that everyone should consider including in their portfolio. Fink's comments followed BlackRock's Q2 earnings results, which exceeded analyst expectations with a 13% year-on-year increase in assets under management to $10.6 trillion. A small part of this figure is attributed to the iShares Bitcoin Trust (IBIT), launched in January, which has since accumulated over $18 billion, including $4 billion in Q2. Fink believes Bitcoin can offer uncorrelated returns and financial control, making it a good investment during times of economic uncertainty or when countries are debasing their currency through excessive deficits.
