BlackRock CEO Larry Fink said Wednesday he's likely in line with Jamie Dimon's view that bitcoin is worthless.- Fink was interviewed on CNBC a day after JPMorgan's chief said he still wasn't on board with bitcoin.
BlackRock CEO Larry Fink said Wednesday he's likely aligned with JPMorgan CEO Jamie Dimon's view that $4 has no value, but the head of the world's largest asset manager does see value in the idea of a digitized currency and blockchain.
"I'm probably more on the Jamie Dimon camp," Fink $4, answering a question referring to Dimon's comment Monday that he believes $4 and that he still isn't buying into the hype surrounding the world's most-traded cryptocurrency.
"I'm not a student of bitcoin and where it's going to go so I can't tell you whether it's going to $80,000 or zero. But I do believe there is a huge role for a digitized currency and I believe that's going to help consumers worldwide," said Fink. Bitcoin during Wednesday's choppy session was up 0.3% to trade around $56,360 and recently recaptured the valuation mark of more than $1 trillion.
Despite Dimon's bitcoin skepticism, his bank conducts business with clients that want access to the world's most-traded cryptocurrency.
"We're studying blockchain and the whole concept of crypto and we believe that will play a very large role," said Fink in responding to a question about whether he has shifted in his view in offering crypto products and access to BlackRock's investors.
"I see huge opportunities in a digitized crypto-blockchain-related currency and that's where I think it's going and that's going to create some big winners and some big losers," he said.
A filing with the Securities and Exchange Commission $4 showed the BlackRock Global Allocation Fund made $369,137 from bitcoin futures.
BlackRock's chief investment officer of global fixed income Rick Reider in February $4 the firm had "started to dabble" in