BlackRock CEO Believes in 'Huge Role' for Crypto
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BlackRock CEO, Larry Fink, is "fascinated" by how many people are interested in cryptocurrencies. In an interview with CNBC, Fink said he is "more on the Jamie Dimon camp," citing JPMorgan's skepticism of bitcoin (EXANTE: Bitcoin). However, the BlackRock CEO says cryptocurrencies have "huge role" in the financial system.

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"I am not a student of bitcoin and where it is going to go so I cannot tell you whether it is going to $80K or 0. But I do believe there is a huge role for a digitized currency," he said.

BlackRock to Launch Crypto ETF When Industry is ‘Legitimate’

In May this year, BlackRock tried to find out whether digital assets could offer "countercyclical benefits." The firm said during a meeting with shareholders it was monitoring the evolution of cryptocurrencies. The results of this study remain undisclosed,

Later, Fink said that the world's largest asset manager did not see any interest in cryptocurrencies from its institutional clients. He added that the firm's clients were more worried on issues around climate change and inflation than cryptocurrencies.

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