‘crypto is digitalising gold in many way’

• BlackRock CEO Larry Fink was all praise for BTC in a recent interview.
• The asset manager refiled for a Spot Bitcoin ETF earlier this week.
• Bitcoin is currently up close to 90% versus the start of the year.

Bitcoin made a new 52-week high this morning after Larry Fink – the Chief Executive of BlackRock Inc agreed that it was a valuable international asset.

Fink is now constructive on Bitcoin

Fink had once dubbed the BTC an index of money laundering. But in a recent interview with Fox Business, he was all praise for the world’s largest cryptocurrency by market cap.

I do believe the role of crypto is digitalising gold in many ways. Instead of investing in gold as a hedge against inflation or the onerous problem of any one country.

Earlier this week, the asset manager refiled for a Spot Bitcoin ETF after the U.S. Securities and Exchange Commission asked for more clarity on its initial application.

BlackRock Inc currently has about $9.5 trillion worth of assets under management.

Is a Spot Bitcoin ETF coming soon?

Note that BlackRock has a history of getting regulatory approval for nearly every exchange-traded fund it has ever filed for.

That’s important considering many experts forecast a Spot Bitcoin ETF to unlock further upside in Bitcoin. The digital currency is already up close to 90% for the year at writing.

BlackRock has already made money investing in BTC and expects the crypto asset to grow further moving forward. According to CEO Larry Fink:

The foundation of BlackRock is about hope. You have for retirement because you believe tomorrow is better than today.