BlackRock CEO Larry Fink Is The Best Thing To Happen To Bitcoin, Mike Novogratz Says
August 01 2023 - 10:30PM
NEWSBTC
BlackRock officially announced its entrance into Bitcoin earlier
this year by filing for a Spot Bitcoin ETF with the United States
Securities and Exchange Commission (SEC). Although the regulator is
yet to accept the filing, CEO Larry Fink has also made some
supportive comments, comparing BTC to digital gold. In light
of these events, Galaxy Digital CEO Mike Novogratz has come forward
to share his opinions on BlackRock CEO Larry Fink and how he
affects the digital asset. BlackRock CEO’s Pivoting Sentiment
Toward Bitcoin Galaxy Digital CEO Mike Novogratz has stated that
BlackRock’s CEO Larry Fink’s change of heart is the best thing to
happen to Bitcoin. “I think the most important thing that
happened this year in Bitcoin is Larry Fink,” Novogratz mentioned
during an interview on Bloomberg TV with David Rubenstein. Related
Reading: USDT Issuer Tether Reports A 30% Decline In Profit
Novogratz believes Fink’s acceptance of Bitcoin highlights a
shifting sentiment towards Bitcoin and other digital currencies
worldwide. According to him, “180 million people around the
world, without a gun to their head, take their hard-earned savings
and store it in this community of people that run this technology,
you know, called bitcoin.” He further opined that Fink’s change of
heart, alongside the increasing adoption of cryptocurrencies, could
help Bitcoin surpass its all-time high of $69,000 recorded in
2021. Blackrock’s CEO Larry Fink was long known to be a
skeptic of cryptocurrencies as he once went as far as tagging BTC
an “index of money laundering.” “Bitcoin just shows you how
much demand for money laundering there is in the world,” Fink
stated in 2017. BTC price continues to fall as it trades at $28,789
| Source: BTCUSD on Tradingview.com However, there has been a
change of heart from the CEO as earlier in June, BlackRock filed an
application to the SEC to establish a Bitcoin spot ETF, a move that
saw some other institutions file a similar application. In
fact, in a show of support for cryptocurrencies, Fink stated that
crypto, especially bitcoin could “revolutionize
finance.” During an interview with Fox Business, he
stated: “We do believe that if we can create more tokenization
of assets and securities – that’s what bitcoin is – it could
revolutionize finance.” Regulatory Environment Far From
Certain Novogratz also noted Ripple’s recent victory over the SEC,
with a judge ruling that the XRP token isn’t a security when sold
on secondary exchanges. The Galaxy Digital CEO believes the court’s
decision highlights the fact that regulators are still not familiar
with the crypto space, and regulations from these regulators “are
nowhere close to clear.” Related Reading: US Presidential Candidate
Defends Bitcoin, Calls Out Environmental Critics The United States
Securities and Exchange Commission has, so far, continued to label
many cryptocurrencies as “securities” and filed separate lawsuits
against different crypto exchanges and firms for allowing the trade
of “unregistered securities.” However, if the recent ruling
is anything to go by, it is obvious that the regulators are
mistaken, and there is a need for the US Congress to enact
crypto-related laws for stakeholders (including regulators) to gain
more clarity on how to navigate the industry regulatory-wise.
Featured image from CryptoSlate, chart from Tradingview.com
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