BlackRock CEO Larry Fink Highlights Crypto’s Popularity
BlackRock CEO Larry Fink acknowledged the recent bitcoin rally as evidence of the growing interest in cryptocurrency. Although he couldn’t comment on his firm’s pending application for a spot bitcoin ETF, Fink stated that clients worldwide have expressed their need for crypto. He attributed the rally to a flight to quality amid global issues such as the Israeli war and terrorism, suggesting that crypto could serve as a safe haven asset.
False News Report Triggers Bitcoin Surge
The price of bitcoin surged to nearly $30,000 following a false news report claiming that the proposed BlackRock ETF had gained approval from the Securities and Exchange Commission (SEC). The report was later retracted, with Cointelegraph issuing an apology for disseminating inaccurate information. Despite the correction, bitcoin held onto some gains, rising 4.8% over the past day to reach $28,505.
Fink’s Endorsement of Bitcoin as Digital Gold
Larry Fink has recently embraced bitcoin, emphasizing its potential as a digital version of gold. The SEC has announced additional proceedings to evaluate spot bitcoin ETFs proposed by major asset managers like BlackRock, Invesco, Valkyrie, and Fidelity. These additional delays will extend the review process by at least another month. The SEC advised caution when relying on internet sources for information and encouraged readers to refer directly to their official statements.
Hot Take: Crypto Gains Momentum Amidst Global Uncertainty
The recent bitcoin rally fueled by false news highlights the growing interest in cryptocurrency. As geopolitical tensions rise and global uncertainties loom, investors are seeking safe haven assets like crypto. With endorsements from influential figures like Larry Fink and ongoing discussions about spot bitcoin ETFs, it’s clear that crypto is gaining momentum as a flight to quality. However, it’s important to verify information from official sources to avoid being misled by inaccurate reports.
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