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BlackRock CEO: "Bitcoin is an asset of fear"
Source: DigitalToday Original Title: BlackRock CEO: “Bitcoin is a Fear Asset” Original Link: https://www.digitaltoday.co.kr/news/articleView.html?idxno=610425![래리 핑크 블랙록 CEO]()
Larry Fink, BlackRock CEO, made headlines by describing Bitcoin as a “fear asset” at the New York Times DealBook Summit.
According to blockchain media outlet CoinTelegraph, CEO Larry Fink had criticized Bitcoin in 2017 as a “money laundering tool.” However, BlackRock now operates the iShares Bitcoin Trust (IBIT), a spot Bitcoin ETF with $7 billion in assets.
He noted that Bitcoin’s price dropped on news about US-China trade negotiations and the possible end of the war in Ukraine, analyzing that Bitcoin is an asset reflecting fear.
Earlier this year, BlackRock received approval from the US Securities and Exchange Commission (SEC) for its spot Bitcoin ETF, and IBIT recorded a net outflow of $2.3 billion in November alone. However, BlackRock emphasized that the ETF offers strong liquidity and remained optimistic about the market.
Meanwhile, major asset management firms such as Grayscale, Fidelity, and Ark Invest are also expanding their spot Bitcoin ETFs in competition. These products are becoming a channel for institutional capital inflows and are increasing their influence on the market.