'I was a proud skeptic,' BlackRock CEO Larry Fink said. 'My opinion five years was wrong.'
"I was a proud skeptic," Fink said Monday on CNBC, "and I studied it, learned about it, and I came away saying, okay, you know, my opinion five years was wrong."
BlackRock also recently hit a major milestone for its digital asset class: The BlackRock USD Institutional Digital Liquidity fund surpassed $500 million in market value. This makes BUIDL the highest-valued tokenized treasury fund in the world, according to its issuer, Securitize Markets. Fink described it as an instrument to invest in during times of increased fear. He remarked that if people believe countries are debasing their currency through excessive deficits, bitcoin offers an opportunity to invest in something beyond the control of any single country, thereby providing greater financial control.
Fink runs a $10.6 trillion asset manager, and one expert said it is hard to overstate how big a deal it is for him to give these “full-throated endorsements” of bitcoin as a legit asset class for everyday portfolios.
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