BlackRock’s Larry Fink: Bitcoin Is ‘Legitimate Financial Instrument'

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BlackRock’s Larry Fink: Bitcoin Is ‘Legitimate Financial Instrument'
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Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

This comes as the asset manager on Monday posted better-than-expected second quarter earnings.second quarter earnings results

A minor contributor to the company's AUM figure is its iShares Bitcoin Trust , which launched in January and has accumulated more than $18 billion since, including $4 billion in the second quarter. Bitcoin, Fink continued, should be part of every investor’s portfolio as it potentially allows for uncorrelated returns and provides financial control.

“It is an instrument that you invest in when you’re more frightened,” said Fink."It is an instrument when you believe that countries are debasing their currency by excess deficits.”in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.

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