BlackRock CEO Larry Fink Says There’s A Role For Crypto ‘In The Same Way There Is For Gold’
BlackRock Inc. (NYSE:BLK) CEO Larry Fink said cryptocurrencies have a legitimate role similar to gold, reversing his earlier skepticism during an interview with CBS’ 60 Minutes.
Fink Reverses Course As Crypto Gains Ground Like Gold
Fink acknowledged that he once described Bitcoin (CRYPTO: BTC) as “the domain of money launderers and thieves,” but said markets had reshaped his view.
“There is a role for crypto in the same way there is a role for gold,” he told 60 Minutes, calling it an alternative asset for investors seeking diversification.
He added that while the asset class can provide balance within a portfolio, investors should not treat it as a major holding.
“It is an alternative. For those looking to diversify, this is not a bad asset,” he said.
“But I don’t believe it should be a large component of your portfolio.”
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