During a recent CNBC interview, CEO of BlackRock, Larry Fink, said he was “wrong” about Bitcoin before calling the decentralized asset “digital gold” and a “legitimate” financial instrument.
The head of the $10.6 trillion asset management firm told CNBC’s Jim Cramer “I was a skeptic, a proud skeptic” before studying the nascent asset and changing his mind about Bitcoin 
BTCUSD.
“It is a legitimate financial instrument that allows you to maybe have uncorrelated type of returns. I believe it is an instrument that you invest in when you’re more frightened, though. It is an instrument when you believe countries are debasing their currency by excess deficits, and some countries are.”
Fink then touched on the deteriorating economic and political situation in some countries and the potential for Bitcoin to give individuals in those societies an option of investing in something beyond their geographies.Fink talks to CNBC’s Larry Cramer. Source: YouTube
BlackRock Bitcoin ETF
