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International Business Times
International Business Times
Business
Marvie Basilan

BlackRock's Larry Fink Admits He Was Wrong, Now Believes 'Bitcoin Is Legitimate'

Larry Fink Bitcoin BlackRock Crypto CNBC Television
Larry Fink once associated cryptocurrencies with money laundering. CNBC Television | Squawk on the Street (Credit: CNBC Television YouTube/Screenshot)

KEY POINTS

  • Fink admitted Monday he was wrong about his earlier views of Bitcoin
  • He revealed that he studied the coin and now believes it is "legitimate"
  • Fink previously linked crypto to money laundering and said BlackRock clients weren't interested

Ever since Bitcoin was first introduced to the financial world, there have been countless skeptics and doubters, and one of them was Larry Fink, the chairman and CEO of investment behemoth BlackRock. Things have changed since, and BlackRock's spot $BTC exchange-traded fund (ETF) IBIT, has become the world's most popular Bitcoin ETF. What made Fink change his mind?

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