BlackRock CEO Larry Fink, who once called Bitcoin an “index of money laundering,” today said the oldest and biggest cryptocurrency was “digitalizing gold.”

The billionaire’s comments in a Fox Business interview Wednesday came weeks after the world’s largest asset manager applied to the U.S. Securities and Exchange Commission for a spot Bitcoin ETF. 

BlackRock—which manages $9.5 trillion in assets—helped spur a Bitcoin run with its application, leading institutional investors to pour money into the space and causing the asset to jump to a 12-month high. 

“I do believe the role of crypto is digitalizing gold, in many ways,” said Fink. “Instead of investing in gold as a hedge against the onerous problems of any one country.” 

“Let’s be clear—Bitcoin is an international asset,” he added.

Fink has come a long way since 2017 when he
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Author: Mathew Di Salvo

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