BlackRock CEO doubts Bitcoin will ever be a currency

BlackRock CEO Larry Fink suggests that Bitcoin may not become the preferred currency for everyday spending and claims that he has not contemplated Bitcoin's potential price trajectory.

BlackRock CEO Larry Fink doubts the practicality of using Bitcoin

BTC

€39,068

for everyday transactions, reiterating that it should be publicly perceived as simply an asset class.

In an interview with CNBC on January 11, Fink expressed his belief in Bitcoin, viewing it as an alternative form of wealth storage rather than a contender to replace national currencies.

“I don't think it will ever be a currency. “I think it’s an asset class.”

BlackRock CEO Larry Fink appearing on CNBC on January 12. Source: CNBC/Youtube

However, he does believe that central bank digital currencies (CBDCs) will become a reality in the near future.

“I think we are going to create digital currencies, we are going to use technology for it. “We are going to use a blockchain,” he stated.

According to recent data from Cointelegraph, more than 100 countries are exploring the topic of CBDCs, while there are 39 countries that have CBDC initiatives in the form of pilots, proofs of concept or launches.

However, when asked about his position regarding ARK Invest CEO Cathie Wood's most recent Bitcoin valuation predictions, which range from $600,000 to $1 million, Fink indicated that price is not his primary concern. at the moment.

"I haven't even thought about it," Fink said, explaining that it hasn't been a priority for him as he focuses primarily on offering "an instrument that can store wealth."

“I think if it gets even close to that number, gold will represent even greater value. And let's be clear, if you think it's digital gold, there will be a benchmark between gold and Bitcoin.”