BlackRock CEO Larry Fink fully shed his crypto skeptic shell today and defended Bitcoin as a check against authoritarian governments. During a day-long media tour, Fink stopped by Fox Business to discuss this landmark week in which the SEC approved 11 spot Bitcoin ETFs. Fink hailed Bitcoin as a store of value and a tool to thwart economic government manipulation.

“Let’s be clear: if you’re in a country where you’re fearful of your government—and maybe this is one of the reasons why China has banned it—if you’re in a country where you’re fearful of your future, fearful of your government, or you’re frightened that your government is devaluing its currency by too much deficits, you could say this is a great potential long-term store of value,” he said.

His stance is a far cry from where he stood in 2017, when Fink joined JP Morgan CEO and longtime Bitcoin critic Jamie Dimon in speaking out against Bitcoin, with Fink calling Bitcoin an “index of money laundering.”

While Fink acknowledged Bitcoin’s use in illicit activity today, he said his view of Bitcoin began turning around in the midst of the pandemic, telling the broadcaster that there is also much opportunity in Bitcoin.

“I came around to it and around to a different interpretation three years ago,” Fink said in an interview with Fox Business anch

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Author: Jason Nelson

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