During an interview with CNBC, BlackRock CEO Larry Fink has expressed his belief that Bitcoin should be included in everyone’s investment portfolio. Fink has admitted that his opinion on the asset was wrong five years ago, but now recognizes it as a legitimate financial instrument. This statement followed BlackRock’s second quarter earnings report, which showed a 13% increase in assets under management to $10.6 trillion. Although BlackRock’s iShares Bitcoin Trust (IBIT) contributed only a small portion to this figure, it has still accumulated more than $18 billion since its launch in January.
