The post BlackRock CEO Recognizes Bitcoin as a Distinct Asset Class appeared on BitcoinEthereumNews.com.

Larry Fink acknowledges the increasing acceptance of Bitcoin as a legitimate investment option. The BlackRock CEO recognizes Bitcoin as an asset class in itself, comparing it with gold. Nate Geraci slams the critics who still believe that cryptocurrency is a scam. Larry Fink, CEO of BlackRock, the world’s largest asset manager, has affirmed Bitcoin’s status as a legitimate investment option, likening it to gold. During the Q3 2024 earnings call on Friday, Fink discussed Bitcoin’s potential market expansion despite regulatory hurdles. Fink expressed optimism about Bitcoin’s future growth, stating that the continued advancement in cryptocurrencies and blockchain technology will significantly impact global finance. Reiterating his belief in Bitcoin’s legitimacy as an investment, the BlackRock CEO said that asset utilization would increasingly become a global reality. He added: “We believe bitcoin is an asset class in itself. It is an alternative to other commodities like gold.” Prominent crypto voices like Nate Geraci and Eric Balchunas highlighted Fink’s recognition of Bitcoin and other digital assets. Shedding light on the growing acceptance of Bitcoin and Ethereum, Geraci called out critics who still linger on the ‘crypto is a scam’ narrative. CEO of world’s largest asset manager is out here saying “bitcoin is now an asset class in itself” & talking about the expanding role of ethereum… And you still think crypto is a scam. https://t.co/bOqSrFY8oU — Nate Geraci (@NateGeraci) October 14, 2024 Crypto Assets’ Future Growth Notably, BlackRock’s iShares Bitcoin Trust (IBIT) has attracted $23 billion in inflows within nine months of the ETF’s launch in January 2024. Additionally, iShares Ethereum Trust (ETHA) recorded over $1 billion in net inflows within the first two months. Expressing enthusiasm for achieving the highest inflows, Fink suggested the firm’s plans to expand its offerings with new products, making “investing easier and more affordable.” Read also :…

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Filed under: News - @ October 15, 2024 6:21 am