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CEO of $9.5 Trillion Asset Manager Suggests That Bitcoin May Be Worthless

Wed, 10/13/2021 - 12:21
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Alex Dovbnya
Larry Fink remains among the Wall Street titans who are reluctant to embrace Bitcoin
CEO of $9.5 Trillion Asset Manager Suggests That Bitcoin May Be Worthless
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Larry Fink, CEO of asset management behemoth BlackRock, expressed skepticism about Bitcoin during his Oct. 13 appearance on CNBC.

When asked about whether or not he agrees with JPMorgan CEO Jamie Dimon's comments about Bitcoin being worthless, Fink said that he was in the banker's camp.

I'm probably more in the Jamie Dimon camp.

Fink went on to explain that he has no idea whether the Bitcoin price is going to shoot up to $80,000 or collapse to zero:

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 $80K or 0.

Dimon has once again emerged as the biggest crypto villain with his most recent anti-Bitcoin statement. Famed whistleblower Edward Snowden called Dimon "Boomer," highlighting the generational divide.

Fink, however, believes that there is a "huge" role ahead for digital currencies, seemingly adopting a crypto-agnostic view on the industry.

Back in May, after Tesla crashed the crypto market by halting crypto payments, Ark Invest boss Cathie Wood suggested that Fink and BlackRock's ESG agenda were the cause behind the U-turn.

Rick Rieder, Blackrock's global fixed income CIO, is more bullish on Bitcoin. He recently said that the cryptocurrency's price could go up "significantly," without making any specific price predictions. That said, Rieder believes that Bitcoin is yet to mature into a standalone asset.

Bitcoin is currently hovering above $55,000 on major spot exchanges after trimming some of its recent gains.

In December, Fink wowed the crypto community by saying that Bitcoin would turn into a global asset and threaten the U.S. dollar.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at