BlackRock CEO Larry Fink said over the weekend that Bitcoin has a place like gold does and that it’s not a bad asset.
“There is a role for crypto the same way there is a role for gold,” Fink said during a weekend interview with 60 minutes on CBS News.
BlackRock is the largest money manager in the world and oversees over $12 trillion in assets.
BlackRock also launched crypto-spot Bitcoin ETFs in 2024 after getting approval from the Securities and Exchange Commission.
In the past, Fink had dismissed Bitcoin and called it an “index of money laundering,” according to Yahoo Finance.
Earlier this year, President Donald Trump signed a major cryptocurrency legislation into law after it was passed by Congress.
The legislation, called the GENIUS Act, has a goal to have guardrails for digital assets attached to another currency like the U.S. dollar or gold.
“The entire crypto community for years, you were mocked and dismissed and counted out, you were counted out, as little as a year and a half ago. But this signing is a massive validation,” Trump said at the bill signing.
The House voted 308-122 to pass the Genius Act, which was introduced in the Senate by Tennessee GOP Sen. Bill Hagerty.
