BlackRock CEO: Bitcoin an asset class in itself

BlackRock CEO Larry Fink said in a Q3 conference call, reported by Bloomberg’s Eric Balchunas on X, that he doesn’t think there will be a big difference regardless of who wins the presidential election. Regardless of the outcome Fink believes that the use of digital assets will continue to increase. The BlackRock CEO confirmed that the company is discussing with institutions around the world how to think about digital assets and how to allocate assets, believing that Bitcoin is an asset class in itself. Fink sees it as an alternative to commodities like gold. Additionally, he said that BlackRock thinks that Ethereum's role as a blockchain can also be greatly expanded. In the short-term the company sees liquidity and transparency as more of an issue than regulation. In the past, Fink said that the mortgage market was very slow to develop at first, but as analysis and data accumulated, the market gradually grew. With that, he envisions that the digital asset market will follow a similar trajectory.