BlackRock CEO Larry Fink Shares Thoughts on a Bitcoin ETF: Bull Run Ahead?
BTC price topped $30K this week. BlackRock chief Larry Fink called it a “flight to quality” amid positive Bitcoin ETF buzz and a high-profile FTX trial in swing.
TL’DR • BlackRock CEO Larry Fink praises the Bitcoin network, citing pent-up interest in crypto and a flight to quality as drivers of the recent rally. • Confidence in SEC approval of a Bitcoin ETF is growing, reinforcing Bitcoin’s quality and mainstream adoption, as evidenced by increased stablecoin flows into Bitcoin. • The ongoing trial of Sam Bankman-Fried highlights the narrative that decentralized cryptocurrencies like Bitcoin are more reliable and of higher quality, leading to a “flight to safety” amid market turmoil and inflation concerns, as noted by analysts.
Fink’s recently gave high praise for the Bitcoin (BTC) network.
Furthermore, the CEO of the world’s largest hedge fund, with over $9.4 trillion in AUM (assets under management), said this October’s stunning Bitcoin rally is “beyond rumor.”
Fink believes the market’s recent moves to multi-month highs are about cryptocurrency’s quality as an investment: