BlackRock CEO Larry Fink called $BTC a "fear asset" because it's bought as a hedge against economic and geopolitical uncertainty and currency depreciation. He explained that Bitcoin differs from traditional investment instruments because it's bought based on fear. Despite this, BlackRock manages the world's largest Bitcoin ETF. Fink highlighted Bitcoin's appeal because of its limited supply, unlike fiat currencies that can be printed by governments. He also mentioned that sovereign wealth funds are starting to buy Bitcoin as a hedge. However, Fink cautioned about Bitcoin's volatility and the risks of leveraged trading.
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BlackRock CEO Larry Fink called $BTC a "fear asset" because it's bought as a hedge against economic and geopolitical uncertainty and currency depreciation. He explained that Bitcoin differs from traditional investment instruments because it's bought based on fear. Despite this, BlackRock manages the world's largest Bitcoin ETF. Fink highlighted Bitcoin's appeal because of its limited supply, unlike fiat currencies that can be printed by governments. He also mentioned that sovereign wealth funds are starting to buy Bitcoin as a hedge. However, Fink cautioned about Bitcoin's volatility and the risks of leveraged trading.