""If you bought it for a trade, it's a very volatile asset, you're going to have to be really good at market timing, which most people aren't," Fink said. "If you're buying it as a hedge against all your hope, then it has a meaningful impact on a portfolio... the other big problem of Bitcoin is it is still heavily influenced by leveraged players.""
"Fink, speaking alongside Coinbase CEO Brian Armstrong, noted that market movements - like a recent 20-25% drawdown in Bitcoin - often reflect broader events, such as trade agreements with China or potential settlements in Ukraine. Despite all this, Fink still suggested it can serve as meaningful portfolio insurance for those holding it as a hedge rather than for short-term trading."
"Meanwhile, BlackRock, the $13.5 trillion asset manager Fink helped build, now offers several crypto products, including a major Bitcoin ETF, marking a stark contrast to his earlier skepticism. "There is no chance" that Bitcoin goes to zero, said Mr. Armstrong, who sat beside Fink. Fink also shared an optimistic view for the asset: "I see a big, large use case for Bitcoin," he said."
Larry Fink shifted from vocal criticism to recognizing Bitcoin's potential as portfolio insurance and a hedge against financial insecurity, geopolitical instability, and asset debasement. He described Bitcoin as an "asset of fear" that investors buy when worried about deficits, security, or global events. He warned that Bitcoin is highly volatile for traders and remains heavily influenced by leveraged players, requiring exceptional market timing for short-term trading. He noted market swings often reflect broader events like trade deals or conflict settlements. BlackRock now offers multiple crypto products including a major Bitcoin ETF, and Brian Armstrong said Bitcoin has no chance of going to zero.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]