In an interview on FOX Business, BlackRock CEO Larry Fink referred to crypto as “digital gold” and referred to Bitcoin (BTC) as a digital asset.
“I believe in many ways the role of cryptocurrency is to digitize gold,” he says. “Rather than investing in gold as a hedge against inflation (and) as a hedge against a country’s pesky problems or the devaluation of your currency in the country you’re in, bitcoin is an international asset.”
By stating that BTC is an international asset, BlackRock CEO Fink explains that it can be used as an alternative asset to gold. BlackRock applied for a Bitcoin ETF (Exchange Traded Fund) last month.
Also Read: BlackRock Files Spot Bitcoin ETF
Source: Coinsturn
Nasdaq also included a Coinbase Surveillance Sharing Agreement (SSA) in a spot refill of Bitcoin ETFs. BlackRock CEO hopes the spot ETF filing will be viewed as a way to “democratize crypto.”
Also Read: BlackRock Bitcoin ETF Has a 50% Chance of Approval?
Gold has long been an important alternative to physical currency when it comes to investing time. However, with the emergence of cryptocurrency over the past decade, it is quickly emerging as an alternative investment asset. Bitcoin is the leading cryptocurrency on the market by value. Currently, according to CoinMarketCap, BTC is priced at $30,484.52 and has a market cap of $592,101,485,120 at the time of writing.
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