- BlackRock CEO Larry Fink praised BTC in a recent interview.
- The asset manager re-applied for a spot bitcoin ETF earlier this week.
- Bitcoin is currently up nearly 90% since the beginning of the year.
Bitcoin hit a 52-week high this morning after BlackRock CEO Larry Fink agreed that Bitcoin is a valuable global asset.
Fink is now positive about Bitcoin
Fink once called BTC a money laundering index.But in a recent interview fox businesshe was praising the world’s largest cryptocurrency by market capitalization.
I believe that the role of cryptocurrencies is to digitize gold in many ways. Rather than investing in gold as a hedge against inflation or one country’s thorns.
Earlier this week, the asset manager refurbished The spot bitcoin ETF application has been made after the US Securities and Exchange Commission asked for more clarity on the initial application.
BlackRock currently manages approximately $9.5 trillion worth of assets.
Spot Bitcoin ETF Coming Soon?
Please note that BlackRock has a history of obtaining regulatory approval for nearly every exchange-traded fund it has ever applied for.
This is important given that many experts predict that spot Bitcoin ETFs will unlock more upside potential for Bitcoin. Digital currencies are already up nearly 90% year-on-year at the time of writing.
BlackRock has already made a profit on its BTC investment and expects the cryptocurrency to grow further in the future. CEO Larry Fink said:
The foundation of BlackRock is hope. You believe that tomorrow will be better than today, so you need to retire.