BlackRock CEO Larry Fink: Bitcoin For Money Launderers Only
Larry Fink of BlackRock says that Bitcoin’s sole purpose is money laundering.
BlackRock CEO, Larry Fink, has recently adjusted his perspective on Bitcoin, stating that the cryptocurrency is just a money laundering scheme. Fink had previously made some relatively positive comments about Bitcoin, but has shifted his position.
The head man at the largest asset management firm in the world spoke out against Bitcoin during the same Institute of International Finance panel discussion in which Jamie Dimon called Bitcoin buyers ‘stupid.’ Fink said:
"Bitcoin just shows you how much demand for money laundering there is in the world. That’s all it is. It’s an index of money laundering.”
The comments were met with chuckles from the crowd, even as Fink looked at Dimon as he spoke.
These recent comments indicate the substantial divide there is in Wall Street between industry leaders like Tommy Lee at Fundstrat and others, who have supported Bitcoin as an asset, and Dimon and others who have denigrated it.