BlackRock CEO Larry Fink weighed in on the remarkable controversy that erupted earlier today, when a false report asserted that his company’s application for an iShares Bitcoin Trust ETF had been approved by the Securities and Exchange Commission (SEC). The hoax whipped up a frenzy of excitement on social media that sent Bitcoin’s price soaring by 10%.

“It’s just an example of the pent-up interest in crypto,” Fink said during an appearance on Fox Business. “I think the rally today is about a flight to quality.”

His take is a remarkably positive spin on the day’s events, which were triggered when crypto news publication Cointelegraph tweeted that BlackRock’s eagerly anticipated, much-hyped Bitcoin ETF application had been approved—without citing any source for the claim.

Both BlackRock and the SEC debunked the rumor, and Cointelegraph retracted the post—but not before the price of Bitcoin shot up to nearly $30,000 for the first time since July. Ultimately, the world’s top cryptocurrency scraped $29,483 on the rumor, but within 15 minutes had fallen back down below $28,000 once it was disproven.

Bitcoin currently sits at $28,437, according to

Go to Source to See Full Article
Author: Sander Lutz

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details