BlackRock's Larry Fink says crypto will transcend any one currency

Quick Take

  • BlackRock CEO Larry Fink sang crypto’s praise again on Friday, just a week after he highlighted the role of bitcoin as a kind of “digitizing gold.”
  • “It’s an international asset,” he said in an interview with CNBC.

BlackRock CEO Larry Fink sang crypto's praise again on Friday, just a week after he highlighted the role of bitcoin as a kind of "digitizing gold."

"It's an international asset," he said in an interview with CNBC, referring to crypto on broad terms. "It has a differentiating value versus other asset classes, but more importantly, because it's so international, it's going to transcend any one currency."

"If you just look at the value of our dollar, how it depreciated the past two months and how much it appreciated over the last five years, a international crypto product can really transcend that," he continued. "And that's why we believe there's great opportunities. And that's why were seeing more and more interest. And that interest is broad-based, worldwide."

The asset manager last month filed an application with the Securities and Exchange Commission for a spot bitcoin ETF, triggering a widespread rally in the sector. The SEC has yet to approve a spot bitcoin fund.

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