BlackRock CEO interprets Bitcoin's short-term surge: Public's keen pursuit of safe-haven assets

BlackRock CEO Larry Fink, in an interview following the fake news event of "Bitcoin spot ETF approval," clarified to Fox Business that the message behind Bitcoin's short-term surge reveals far more than fake news, indicating public interest in hedging assets and quality assets.

The three major U.S. stock indexes closed higher on Monday, as Bitcoin saw a dramatic volatile market with ups and downs.

Larry Fink: Bitcoin's Sharp Rise Due to Public Interest in Crypto

Larry Fink still refuses to disclose the progress of the application for his Bitcoin spot ETF, and he commented on the phenomenon of Bitcoin's short-term surge caused by fake news to Cointelegraph:

I cannot discuss any details about the application progress. I believe this is just one of the phenomena where public interest in cryptocurrencies, which has been suppressed for a long time, is surfacing. BlackRock is hearing demand for cryptocurrencies from clients around the world.

Larry Fink: Public Pursuing Quality Assets

He believes that the message behind Bitcoin's short-term surge reveals more than fake news, indicating the public's interest in hedge assets and quality assets:

I think today's surge is related to investors pursuing quality assets. This includes concerns influenced by the current Israeli conflict, global terrorism, prompting more people to seek quality assets, and cryptocurrencies are a category of hedge assets, similar to gold and US Treasury bonds.

Larry Fink Continues to Change His Views on Cryptocurrencies

Larry Fink criticized in 2017 that the demand for Bitcoin only represents how much demand there is for Bitcoin money laundering.

BlackRock's Larry Fink rephrased Bitcoin as digital gold, and Binance's Zhao Changpeng: they have started to join in

During the 2021 crypto bull market, he described the development of cryptocurrencies as fascinating. However, BlackRock still has not seen widespread interest from global institutions, including sovereign wealth funds, pension funds, and family offices, none of which are discussing cryptocurrencies.

Have institutions changed their views? How do financial giants like BlackRock and Goldman Sachs view Bitcoin now?