Larry Fink, CEO of BlackRock, spoke at The New York Times’ DealBook Summit on December 3, where he reflected on how his view of digital currencies has evolved.
Interviewed by journalist Andrew Ross Sorkin, Fink discussed his shift from linking cryptocurrencies with illegal activity to overseeing a spot Bitcoin
Fink called this transformation “a very glaring public example of a big shift in his opinions”. He explained that his perspective has changed over time. He said, “My thought process always evolves”.
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Fink appeared on stage with Coinbase
$2.13B
CEO Brian Armstrong, but stopped short of fully embracing Bitcoin. He described the cryptocurrency as “an asset of fear“.
He said its value tends to fluctuate with global uncertainty. According to Fink, Bitcoin’s price fell after reports of progress in US–China trade discussions and signs that the war in Ukraine might ease.
He also warned investors about short-term trading. He said:
If you bought Bitcoin for a trade, it’s a very volatile asset. You’re going to have to be really good at market timing, which most people aren’t.
Recently, Fink and Rob Goldstein, BlackRock’s chief operating officer, shared their views on tokenization. What did they say? Read the full story.
