Impressive U-turn: Blackrock boss raves about Bitcoin as an international asset

Impressive U-turn: Blackrock boss raves about Bitcoin as an international asset

View of Manhattan: Bitcoin praises Bitcoin as an international asset

New York, Düsseldorf - The Wall Street view of the cryptom market has changed. Larry Fink, the head of the world's largest asset manager Blackrock, is currently raving about Bitcoin. In interviews with large US stock exchange broadcasters, he described the oldest and most important cyberdevise as "international asset" that "overcomes individual currencies".

The interest of Blackrock customers in Bitcoin has been increasing for several years. For this reason, it is important for the company to facilitate access to Bitcoin for investors of all kinds.

This development is a remarkable U -turn. In 2017, Fink mocked Bitcoin as an "index for money laundering" and thus hit the nerve of many Wall Street professionals. But this view is the past. Blackrock surprised the scandal-plagued crypto industry in mid-June with plans for its own listed Bitcoin Fund.

This seems to meet Blackrock's increasing interests of investors in cryptocurrencies. The recognition of Bitcoin as an international asset by such an important asset manager as Blackrock could further strengthen the cryptoma market and attract institutionalized investors.

Although Bitcoin has been controversial since its introduction in 2009 because of its volatility and possibly criminal usage purposes, its acceptance has continuously improved. More and more companies and investors consider Bitcoin to be a legitimate asset class and a potentially valuable asset.

It remains to be seen how the efforts of Blackrock develop to facilitate access to Bitcoin and what effects this will have on the cryptom market. However, the recognition and support of an influential company like Blackrock could be a significant step towards the mainstream adoption of cryptocurrencies.

Image source : Moment/Getty Images