The BlackRock CEO admitted that he has experienced a major change from his openly critical stance on Bitcoin and cryptocurrencies, saying:
“The reason you own Bitcoin is because you're afraid of your currency losing value.
In the past, I viewed Bitcoin solely as a money laundering tool.
However, during the COVID-19 period, I realized the power of blockchain technology.
Now I too have become a believer.
Bitcoin can act as digital gold, protecting assets from inflation.”
The fact that one of the biggest names in global finance is supporting the role of BTC could be a significant signal for its adoption.
*This is not investment advice.