I admit it: just a few years ago, I would be surprised to hear myself say that the CEO of BlackRock is making good comments about bitcoin.
As the head of the world's largest asset manager, I assumed Larry Fink would be bitcoin's biggest critic. But compared to the dismissive comments about bitcoin from other Wall Street leaders like Jamie Dimon, Fink's perspective is a refreshing change.
If you think otherwise, yesterday's earnings call proves it.
There, Fink stated, “I'm not sure if either president would make a difference” to the growth of bitcoin,” adding, “I don't think (bitcoin's rise) is a function of regulation.”
He went on to compare bitcoin's growth to much larger markets like mortgages, noting that liquidity and transparency drive adoption more than rules.
It's crazy that the CEO of an $11 trillion company is not only embracing bitcoin, but understands that bitcoin thrives because it is a global, apolitical, decentralized money.
Regulation aside, bitcoin moves forward with indifference. Fink seems to understand what many Bitcoiners don't: that political winds don't influence bitcoin's long-term direction. Neither Donald Trump nor Kamala Harris can stop bitcoin from setting new all-time highs.
bitcoin thrives on its own technical merits, not regulatory benevolence.
This independence was always their promise. Now, the world's financial giants are not fighting it, but joining in. They are bullish.
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