BlackRock CEO Larry Fink: Interest in Crypto Is Global

According to BlackRock CEO Larry Fink, there is growing global curiosity about cryptocurrency and a Bitcoin (BTC) ETF traded on the stock exchange could decrease investment expenses.

Fink explained in a recent interview with CNBC’s “Squawk on the Street” that, in a similar way to gold ETFs, a Bitcoin ETF could make investing in the popular digital currency more affordable. He added that a Bitcoin ETF could also expand the accessibility of the currency to a wider group of investors, as the demand for crypto investment continues to increase worldwide.

According to Fink, one reason for the growing interest is the belief that crypto can act as a hedge against depreciating fiat currencies like the US dollar.

“We have a responsibility to democratize investing. And we’ve done a great job. And the role of ETFs in the world is transforming investing. And I think we’re only at the beginning of that…”

He continued and said this:

“And now, with crypto, the idea of democratizing that role. The cost right now to transact is quite expensive. We’re talking points, not decimal points. And so that’s a big point too. Over the last five years, more and more global investors are asking us about the role of crypto, and as I’ve said, I do believe a lot of crypto is going to be… it’s an international asset. It has a differentiating value versus other asset classes, but more importantly, because it’s so international, it’s going to transcend any one currency and currency valuation.”

He also stated the fact that if you just look at the value of our dollar, how it depreciated the last two months, and how much it depreciated over the last five years, an international crypto product can really transcend that.

“And that’s why we believe there are great opportunities and that’s why we’re seeing more and more interest. And that interest is broad-based, worldwide.”