BlackRock Chairman and CEO and crypto enthusiast Larry Fink made a surprising statement. He has figured out that investors rush to buy up Bitcoin when they have serious fears of geopolitical and economic risks.
Bitcoin has a curious feature that sets it apart from the rest. People start investing in it as soon as they get into a panic, the analyst explains.
The owner of the world’s largest asset-management firm says that large investors always have a place for Bitcoin in their portfolios because it can generate additional income.
Larry Fink believes that the flagship cryptocurrency has rightfully earned the status of digital gold, capable of diversifying risks. In the current environment, investors are revising their approach to virtual assets. All of this is happening thanks to Bitcoin," the expert adds.
At present, Larry Fink believes it is premature to speculate about Bitcoin’s further trajectory. Traders should wait for the outcome of the US presidential election. Once the US president is elected, the outlook will clear up. However, the BlackRock CEO is confident that the number one crypto is on the verge of significant changes.
