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>>BlackRock chief Larry Fink comments on Bitcoin after a sharp decline, acknowledging his previous error.

BlackRock chief Larry Fink comments on Bitcoin after a sharp decline, acknowledging his previous error.

crypthub

about 20 hours ago

BlackRock and Its Scale

Larry Fink leads BlackRock, the world’s largest asset manager with roughly $12 trillion under management. The firm’s influence shapes global investment trends. Fink’s public comments attract significant market attention.

Fink’s Shift on Bitcoin

After previously dismissing Bitcoin, Fink now describes it as a useful hedge against fiat devaluation. He likens its role to that of gold as an alternative asset. He says Bitcoin can add diversification to investment portfolios despite recent market volatility.

Reassessment and Guidance

Fink admitted his earlier view was wrong and emphasized the need to revisit assumptions. He does not recommend a large allocation, but sees Bitcoin as a reasonable complement for diversified investors. His remarks reflect a broader acceptance of crypto as a legitimate investment class.