BlackRock CEO Larry Fink says he was wrong on Bitcoin – now says its legitimate

BlackRock CEO Larry Fink spoke in a US media interview (CNBC), endorsing the cryptocurrency:

• “My opinion five years ago was wrong”
• “I believe bitcoin is a legitimate financial instrument”
• BTC should be part of every investor’s portfolio
• an instrument you invest in when you’re more frightened … when you believe that countries are debasing their currency by excess deficits
• “There’s a real need for everyone to look at it as one alternative”

BTC/USD has rallied back to the middle of its recent range. I know of folks calling that bottom just under $56K a week or so ago. Fink coming out now with his support.

This article was written by Eamonn Sheridan at www.forexlive.com.