Larry Fink, the founder and CEO of BlackRock, recently expressed his confidence in Bitcoin (BTC) as a legitimate financial tool in an interview.
During the interview, Larry mentioned that investing in BTC offers an uncorrelated return on investment (ROI) and is an attractive option for portfolio diversification.
According to him,
“I believe BTC is legitimate…It has the potential for abuse like other digital assets, but BTC is basically a financial tool that offers uncorrelated returns.”
BlackRock’s Founder and CEO, Larry Fink, Says He Believes In Bitcoin
In a recent interview with CNBC, BlackRock’s founder and CEO, Larry Fink, said that Bitcoin (BTC) is legitimate and could hit $100K this year.
Larry further explained how BTC could be a profitable option for crypto investors who are concerned about macroeconomic elements like the devaluation of fiat currencies via excessive deficits.
He also mentioned that Bitcoin offers an attractive investment opportunity, especially in those countries where their nationals may feel unsafe about their financial stability. “If you invest in BTC, you have an asset that is not under the control of the government,” he said.
Larry said, “Bitcoin is a tool to invest in when you are more insecure.” He mentioned this when referring to the increasing number of investors who are looking for alternative investments outside of traditional finance systems.
Larry added that Bitcoin enables investors to maintain greater financial control, especially in situations where the country’s currency is at risk.
The BlackRock’s founder closed his comments by reaffirming his belief in the role that Bitcoin could play in diversified investment portfolios.
He emphasized Bitcoin has a decentralized structure that serves as a hedge against economic uncertainty.
Could This Lead Bitcoin To $100,000 In 2024
Larry’s remarks have a significant impact on the crypto industry as it marks a big change in how top leaders in the TradFi sector view digital currencies.
Larry’s belief and support for Bitcoin could encourage more institutional investors to reconsider BTC.
As more institutional investors show interest in BTC as an alternative way to invest their money, this means a bright future for the cryptocurrency.
Therefore, it is worth watching how the price of BTC will continue to develop in the coming months – possibly rising to $100,000.
Bitcoin Currently Facing Resistance At $64K
As earlier reported by BTCRepublic, Bitcoin is currently facing key resistance at $64,000. If Bitcoin could break out of this resistance and hold above this resistance level in high time frames (HTF), that could be the start of a major price surge for the cryptocurrency.
Hopefully, the recent remarks by the founder of BlackRock will help to lead Bitcoin toward $100k by the end of this year.
