2024-07-16 17:58:31
A few years ago, businessman Larry Fink became interested in this cryptocurrency. But “the political risk and the increase in public debt” made him change his mind, he said on the CNBC channel.
“Bitcoin has its place in wallets.” This statement from Larry Fink, boss of the BlackRock platform, a leader in asset management with more than $10,000 billion in assets under management, is not considered in the United States. The businessman, who once said he was skeptical of the first cryptocurrency in circulation, is now out of favor. “As you know I doubt it. I am a proud atheist. But I learned it, I learned things and I told myself that my opinion about it 5 years ago was wrong.he insisted on the American channel CNBC on Monday, July 15.
Larry Fink even went so far as to call it bitcoin“Digital Gold”. And he decided to participate in its expansion. Already on January 11, the boss of BlackRock launched his fund “iShares Bitcoin Trust (IBIT)”. A way to make this digital currency accessible to individual and professional investors. His success was not long in coming. As of May 29, the cryptocurrency has accumulated nearly $20 billion in bitcoin assets under management, making it the largest cryptocurrency exchange. Building on its success, the company can launch in the United States, on July 23, a new ETF (Exchange Trader Fund) on ether, another cryptocurrency.
“Political risk and the increase in public debt”
The businessman also justified his change of heart by the current economic situation. “Political risk and increasing public debt are reasons why investors should hold bitcoin”, he insisted, in a slightly alarming tone. And to finish: “I think it’s something you invest in when you’re more scared. It is a tool for those who believe that countries are destroying their currencies through excessive deficits. This is the case for some countries. “
An argument shared by former president and re-election candidate Donald Trump. Republicans have debated the campaign and decided to support, “the right to personal custody for the country’s 50 million cryptocurrency holders”, he said last May. The latter want to make bitcoin a strategic store of value. His adviser, Vivek Ramaswamy, promoted the indexation of the dollar to deflationary assets such as bitcoin, to prevent an increase in prices in the country. After the assassination attempt of Donald Trump escaped on Saturday July 13, the price of bitcoin increased, exceeding $ 60,000 per bitcoin a few hours after the attack.
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