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BlackRock CEO: Bitcoin is good, but should not occupy too large a proportion in the portfolio.
On October 14, BlackRock CEO Larry Fink stated in an interview with CBS that he has had to reassess Bitcoin, acknowledging that "crypto assets serve the same purpose as gold, both are alternative assets." Fink pointed out that Bitcoin "is not a bad asset, but it should not occupy too large a proportion in a portfolio." In a letter to investors this year, Fink revealed that half of the investment demand for the BlackRock Bitcoin ETF "comes from retail investors, with 75% of investors having never purchased an iShares product before." (Decrypt)