BlackRock CEO: Bitcoin is Fine, But Should Not Have a Large Allocation in Portfolios

BlockBeats News, October 14th, BlackRock CEO Larry Fink stated in an interview with CBS that he has had to reassess Bitcoin, acknowledging that "cryptocurrency serves as a store of value similar to gold."

Fink pointed out that Bitcoin is "not a bad asset, but it should not make up too large a proportion of a portfolio." Fink revealed in a letter to investors this year that in the demand for BlackRock's Bitcoin ETF, "half of it came from retail investors, with 75% of investors having never bought iShares products before." (Decrypt)