BlackRock’s Larry Fink Bullish on Bitcoin (BTC)

Bitcoin (BTC), the world’s flagship cryptocurrency has been making the headlines in 2020, thanks to its massive price surge and Larry Fink, the CEO of the multi-trillion-dollar asset management firm, BlackRock thinks the digital currency could further evolve into a global asset, according to reports on December 2, 2020. In the latest development, Larry Fink, the CEO of BlackRock, the world’s largest asset management firm with a massive $7.5 trillion in asset under management, has declared that he firmly believes that bitcoin, the world’s flagship crypto could achieve greater heights in the coming years.

Fink also stated that he thinks the digital currency, whose market cap of over $350 billion has now surpassed that of top global firms such as Mastercard, Coca-Cola and many others, has all it takes to evolve into a global market asset. At a time when a good number of jurisdictions across the globe are now tapping distributed ledger technology (DLT) for the development of their central bank digital currency (CBDC), Fink has argued that the proliferation of bitcoin has made the world less dependent on the USD, especially international holders of dollar-based assets.

Timeline of Bitcoin