The approval of a Bitcoin exchange-traded fund has been boosted by comments from BlackRock’s CEO

Larry Fink, CEO of BlackRock, recently made headlines with his proposal of a Bitcoin exchange-traded fund (ETF) called Spot. Fink attended a conference where Bitcoin was discussed.

BlackRock In the Fox Business segment he was a part of, Larry Fink discussed Bitcoin (BTC). During a live broadcast, Fink compared Bitcoin to gold in the digital age. According to Fink, bitcoin is an “international asset.” Fink said he is interested in feedback from authorities on the Bitcoin ETF.

Fink said in 2017 that Bitcoin (BTC) constituted a “money laundering index.” But in March 2022, he revealed to investors that he was investigating digital currencies, stablecoins, and the technology behind them to see how they may benefit consumers. He said that the settlement of international transactions may be improved by a globally coordinated digital payment system, which would also reduce the danger of money laundering and corruption.

Here is the rest of Fink’s extended commentary: “In many respects, I see the function of cryptocurrencies as the digital equivalent of gold. As an alternative to gold, the international asset BTC may be utilised to protect against inflation and currency depreciation. Since BTC is not based on any preexisting money, it may serve as the basis for a new asset that people can use instead.”

“Our goal is to make crypto more accessible to the general public and less expensive for institutional investors. Buying and selling cryptocurrency at the moment is a costly process. As a result, many benefits are diminished… We believe these applications may help our regulators see crypto as a tool for the people.”

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