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BlackRock CEO Larry Fink, known for his support of Bitcoin and cryptocurrencies, made new statements.
Fink also expressed his views on Bitcoin during the third quarter earnings report interviews, stating that Bitcoin is an asset class in itself.
Believing that the growth of the $1.2 trillion Bitcoin will come from improved analytics and adoption as opposed to regulation, the BlackRock CEO said that BTC will be as big as the US housing market.
The BlackRock CEO added that it does not matter whether Donald Trump or Kamala Harris wins on November 5 for Bitcoin's growth.
Fink, who believes that the use of Bitcoin and cryptocurrencies will continue to grow regardless of the election results, confirmed that BlackRock is consulting with institutions around the world on how to think about digital assets and how to allocate assets.
The BlackRock CEO added that he sees Bitcoin as an alternative to commodities like gold.
Fink also said that BlackRock thinks Ethereum will develop further and its role as a blockchain can also be greatly expanded.
“We believe Bitcoin is an asset class in its own right. It is an alternative to other commodities like gold.
I also think Ethereum will expand its role as a blockchain. ETH can also grow significantly.
So, if we can create more acceptability, more transparency, more analysis around these assets, then it will expand and it will grow.
I don't believe this growth is really a function of regulation, more regulation, less regulation.”
*This is not investment advice.