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Aug 26, 03:30 PM
BlackRock CEO Larry Fink Endorses Bitcoin as Digital Gold Hedge Amid $12 Trillion Assets; Industry Leaders Predict Global Reserve Currency Role
Economics
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BlackRock CEO Larry Fink Endorses Bitcoin as Digital Gold Hedge Amid $12 Trillion Assets; Industry Leaders Predict Global Reserve Currency Role

Authors
  • Bitcoin Magazine
  • CoinDesk
  • Cointelegraph
13

Larry Fink, CEO of BlackRock, the world's largest asset manager with $12 trillion in assets, has publicly endorsed Bitcoin as a hedge against currency debasement. Fink described Bitcoin as "digital gold" and a "currency of fear," emphasizing that ownership is driven by concerns over the weakening of fiat currencies and national security. He stated, "You own Bitcoin because you're frightened of your security in your country" and expressed that he has become a believer in Bitcoin's value proposition, though he does not see it replacing traditional currency but rather serving as a digital store of value. At the Bitcoin Conference Asia, former Coinbase CTO Balaji Srinivasan predicted that Bitcoin's rise as a primary store of value will diminish real estate's role as an investment, relegating property to utility purposes only. Additionally, Binance founder Changpeng Zhao (CZ) asserted that Bitcoin is on track to become the global reserve currency, signaling growing institutional and industry confidence in Bitcoin's future role in the global financial system.

Written with ChatGPT (GPT-4).

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