Bitcoin

The chief executive officer of the world’s largest asset manager, Blackrock, says he is “more on the Jamie Dimon camp” when asked whether he thinks bitcoin is worthless. However, the executive says he is fascinated by people’s interest in crypto and sees “a huge role for a digitized currency.”

Blackrock’s CEO Sides With JPMorgan’s Jamie Dimon on the Value of Bitcoin

Larry Fink, the CEO of the world’s largest asset manager with $9.5 trillion in assets under management, Blackrock, answered some questions about cryptocurrency, particularly bitcoin, in an interview with CNBC Wednesday.

He was asked whether he was “still in the Jamie Dimon’s category of ‘bitcoin is worthless’” or whether he saw value in the cryptocurrency. Dimon, the CEO of global investment bank JPMorgan, said earlier this week: “I personally think that bitcoin is worthless.” He also questioned the limited supply of the cryptocurrency.

The Blackrock executive replied:

I am probably more on the Jamie Dimon camp. But I am fascinated by so many people’s interest. It’s fantastic. I love the fact that more people are looking to invest in different things. I believe this is a very good, positive action.

Fink added: “I’m not a student of bitcoin and where it’s going to go. I can’t tell you whether it’s going to be going to $80,000 or zero.”

However, the CEO opined: “But I do believe there is a huge role for a digitized currency. And I believe that’s going to help consumers worldwide, whether it’s bitcoin or something else, or more of a governmental official digital currency, a digital dollar — that will play out.”

The Blackrock executive further explained that he is fascinated by “the great new technology.” Noting that “It’s attracted so many people,” he expressed: “It’s fantastic seeing how people have become so fascinated about it, that they are showing interest in this. Whether this is going to play out well in the long run, we’ll see.” Fink concluded:

I see huge opportunities in a digitized crypto, blockchain-related currency, and that’s where I think it’s going and that’s going to create some big winners and some big losers.

What do you think about Blackrock CEO Larry Fink’s comments? Let us know in the comments section below.

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