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Billionaire Investor Praises Cryptocurrencies, Says He’s Not A Student Of Bitcoin

BlackRock Chairman Larry Fink praised the growing crypto market on Wednesday, but did not express any particular enthusiasm for Bitcoin.

In an interview with CNBC, Fink thinks about Bitcoin after JPMorgan Chase CEO Jamie Dimon called cryptocurrencies “fool’s money” and “scams” and said they were “not worth it” this week. Was asked.

Fink quickly expressed his interest in digital currencies, but said Bitcoin was “probably in the Jamie Dimon camp” as worthless.

“I’m not a Bitcoin student, where it goes, so I don’t know if it’s going to be $ 80,000 or zero.” He said in “Squawk Box”“But I believe that digitized currencies have a big role to play.”

He called it a growing new technology, admitting it was gambling. “It will produce some big winners and some big losers,” he said.

“I have more conversations with people on the street about cryptocurrencies than anything else,” Fink said. He said it was “great” that so many people were interested in the crypto market.

Bitcoin on Tuesday showed its biggest decline in two weeks, down 3.5% to $ 55,360. As of Wednesday 5:50 pm EST, Bitcoin was trading at $ 57,578.08, up 2.77%.

Despite the recent decline, the most valuable cryptocurrencies are still up 90% year-to-date, reaching a record $ 65,000 in April.

The recent decline “is not a source of concern,” said James Butterfill, a UK-based investment strategist at CoinShares.



Billionaire Investor Praises Cryptocurrencies, Says He’s Not A Student Of Bitcoin Source link Billionaire Investor Praises Cryptocurrencies, Says He’s Not A Student Of Bitcoin

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