Larry Fink, BlackRock CEO joins Jamie Dimon’s opinion that Bitcoin is worthless
In an interview with CNBC, Larry Fink, CEO of wealth management giant BlackRock, criticized Bitcoin with the exact words of JPMorgan CEO Jamie Dimon.
“I’m probably more on the Jamie Dimon camp,” says Larry Fink on #crypto. “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. But I do believe there is a huge role for a digitized currency.” pic.twitter.com/xNn4NBNefr
— Squawk Box (@SquawkCNBC) October 13, 2021
BlackRock CEO remains among the Wall Street titans who are reluctant to embrace Bitcoin
Fink expressed his skepticism about BTC when asked whether he agreed with JPMorgan CEO Jamie Dimon’s comment about it being worthless. As AZCoin News reported, JPMorgan CEO Jamie Dimon took a shot at BTC during the Institute of International Finance (IIF) Annual Membership meeting on Oct. 11, claiming that the most prominent cryptocurrency is worthless.
“I think Bitcoin is worthless,” he stated.
And then, Fink said that he was in the banker’s camp, “I’m probably more on the Jamie Dimon camp.”
When asked about his BTC price forecast, Fink explained that he doesn’t know if the Bitcoin price will rise to $80,000 or drop 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”, he added.
Even so, Fink believes there is a massive role for digital currencies, appearing to be adopting a crypto-agnostic view of the industry. Despite being highly critical of Bitcoin for years, Dimon recently suggested that the price of the bellwether coin could see a tenfold increase. He believes that only fools would borrow money for investing in crypto.
It seems that Dimon’s influence is quite significant. He has once again emerged as the most significant crypto villain with his most recent anti-BTC statement. Prominent whistleblower Edward Snowden called Dimon “a boomer,” highlighting the generational divide.
Back in May, after Tesla crashed the crypto market by halting crypto payments, Ark Invest boss Cathie Wood suggested Fink and BlackRock’s ESG plan was the reason behind the turn.
BTC/USD 4-hour chart | Source: TradingView
At the present time, the market is much more mature because it is not so affected by criticism as before. At press time, BTC is changing hands at $54,888.
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