BlackRock CEO Larry Fink Views Bitcoin With Optimism

BlackRock CEO Larry Fink, an American investment multinational, said in an interview with CNBC on Monday (15) that he sees a future in Bitcoin. He considered himself a “proud skeptic,” but pointed out that he had a “wrong view” on the subject. For him, investing in cryptos is a tool to avoid economic crises generated by countries:

“You invest when you are most scared and believe that countries are debasing their currency by running excessive deficits, and some nations are,” stated.

BlackRock has an ETF for the coin launched earlier this year. Named the “iShares Bitcoin Trust,” it has already attracted $18 billion since its inception. As such, it is the most traded fund on the Bitcoin exchange. The company also has plans to launch an ETF for Ethereum, the world’s second-largest cryptocurrency.

Recent History

Launched in 2008, Bitcoin is the world's leading cryptocurrency. Its current market value is around R$353,000 (1 BTC). It had the biggest boom in its history during the pandemic; from 2020 to 2024, it appreciated by 1,800%. In 2021, it reached its peak at R$353,000.

Despite the stability over the last month, the currency has appreciated by almost 75% since January. The rise follows optimism regarding Donald Trump's victory in the United States elections. The former president is the first candidate to accept donations in cryptocurrencies. His supporters have already donated US$3 million in the second quarter.

_{The world's leading crypto, Bitcoin was launched in 2008 (Photo: reproduction/MichaelWuensch/Pixabay)}

In Brazil

Bitcoin, like all cryptocurrencies, is regulated in Brazil by Law 4,401/2021, approved in December 2022. It is known as the “Bitcoin Law” and makes it legal for any citizen of the country to trade the currency. It came into effect at the end of June last year. In fact, its declaration on Income Tax is mandatory. Despite not issuing any, the Central Bank has been regulating and supervising cryptocurrencies in Brazil since June 2023, following a decree by President Luiz Inácio Lula da Silva.

Featured Photo: Larry Fink points to Bitcoin as a way to protect yourself financially (reproduction/MichaelWuensch/Pixabay)