Larry Fink, CEO of BlackRock, made some startling statements on CNBC about Bitcoin. He said, ‘Bitcoin gives you the ability to invest in something outside of your country's control, which gives you greater financial control.’ He has studied the issue and now sees Bitcoin as digital gold. ‘I was wrong. Bitcoin is a legitimate financial instrument.’
Larry Fink runs BlackRock, the world's largest fund manager, with $10 trillion under management. This is equivalent to 50% of the GDP of the whole of Europe. BlackRock advises the world's largest companies and even countries like France. BlackRock's critical size allows its predictions and analyses to become self-fulfilling.
BlackRock's and Larry Fink's public statements influence international markets. In a few words, they can indicate the directions to follow and the trends to come. A few hours ago, interviewed on CNBC, Larry Fink admitted that he had been wrong about Bitcoin. ‘Bitcoin gives you the ability to invest in something that is outside the control of your country, which therefore gives you greater financial control. Bitcoin is digital gold, I was wrong: it is a legitimate financial instrument.’
Even if you have little regard for Bitcoin, considering it a scam, a passing fad or a speculative bubble, ask yourself this question: for anyone looking for ‘the next big thing’ in innovation and/or investment, which beliefs seem the most relevant to listen to and take into account for your future? Your banker's, your insurance company's, your office colleague's, your neighbour's? Or those of the most powerful financial player of the 21stᵉ century?
