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BlackRock's Larry Fink rebrands Bitcoin as digital gold, Binance's Changpeng Zhao: They are starting to get in.

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BlackRock CEO Larry Fink publicly expressed his hope to cooperate actively with regulators to alleviate their concerns regarding a spot Bitcoin ETF. At the same time, he also stated that Bitcoin (BTC) serves as "digital gold." Looking back, both Binance founder Zhao Changpeng (CZ) and Gemini Exchange founders believe that traditional finance is finally catching up.

Binance Founder Zhao Changpeng: They Started Joining In

BlackRock's application for a Bitcoin spot ETF with the SEC did not go as smoothly as expected, with news on 6/30 that the SEC found their data insufficient, causing a temporary drop in Bitcoin prices. However, BlackRock CEO Larry Fink publicly called on the SEC to cooperate actively to dispel doubts.

Binance founder Zhao Changpeng commented on this news: "Then they started joining you."

Many early industry players have similar thoughts when they see traditional financial institutions changing their stance on cryptocurrencies. It's something they believed in early on, and now traditional finance is catching up.

Gemini Founder: They Laugh at You at First, Then Join In

Gemini co-founder Tyler Winklevoss retweeted a video of BlackRock CEO Larry Fink, saying, "At first, they ignore you, then they laugh at you, then they join you."

The title of the video featuring Larry Fink's interview is "BlackRock Larry Fink Hopes Regulators Will Treat Spot ETF Applications in a Democratized Way for Cryptocurrencies."

Bitcoin at 5800, BlackRock in 2017: Bitcoin is a Money Laundering Indicator

Looking back at CNBC's report in 2017, when Bitcoin was at $5800, BlackRock CEO Larry Fink stated in an interview that Bitcoin only shows how much demand there is in the world for money laundering, nothing more.

In 2023, with Bitcoin reaching 30K, BlackRock CEO Larry Fink is being interviewed, urging regulatory authorities to approve a Bitcoin spot ETF: