In a recent interview, the CEO of the world’s biggest asset management Blackrock said that he saw enormous possibilities in digitizing crypto blockchain currencies.
Larry Fink said during the interview that despite his lack of knowledge about Bitcoin and inability to forecast its price, he thinks the digital currency industry has enormous potential.
Fink also referenced JP Morgan CEO Jamie Dimon’s recent remark on Bitcoin, in which he described it as worthless. In response to Dimon’s remarks, Fink said that he is more on the Jamie Dimon side. As he said,
“I’m definitely more in the Jamie Dimon camp when it comes to crypto,” Larry Fink says. “I’m not an expert in bitcoin or where it’s headed, so I can’t tell you if it’s going to $80,000 or nothing.” However, I think that a digital money has a significant role to play.”
Jamie Dimon became the brunt of many jokes in the cryptocurrency world, not so much for his worthless remarks as for his reasons for believing it is worthless. Dimon said that he had reservations about Bitcoin’s 21 million supply being constant after everything is mined, since it is a piece of code that can be altered at any moment. However, this is virtually difficult, which is why many forked currencies have been developed and failed horribly.
Blackrock Invests Significantly in Bitcoin Mining
Fink’s remarks on Bitcoin show that he is unfamiliar with the currency’s pricing but is aware of its potential. Blackrock, on the other hand, has invested millions in Bitcoin mining firms, particularly at a period when Chinese miners were moving to the United States. Additionally, Blackrock disclosed in its first-quarter report that it had invested in the Bitcoin Futures market.
Bitcoin is presently trading at $55,106, with a target price of $60,000. The leading cryptocurrency just reached a fresh five-month high, and on-chain indicators suggest bulls will shortly retest the all-time high.
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