BlackRock CEO Larry Fink Says He's a 'Major Believer' in Bitcoin

The BlackRock boss has admitted that he was wrong about Bitcoin

Major asset manager BlackRock has warned against dealing with individuals, websites or social media platforms that are using its brand to offer training or investments.

Last year, BlackRock took legal action against the owner of various fake domains that were impersonating the New York-headquartered company in order to defraud investors. Some of the bogus websites were related to crypto.

Last December, an XRP exchange-traded fund called “BlackRock iShares XRP Trust” was submitted by a fraudster, pushing the price of the Ripple-affiliated altcoin significantly higher. BlackRock ended up issuing a statement that the filing was fake.

During a recent CNBC interview, BlackRock CEO Larry Fink said that he views Bitcoin as a "legitimate" investment. In 2017, Fink dismissed the largest cryptocurrency as merely a tool for money laundering.

In January, BlackRock launched a highly successful Bitcoin ETF. Earlier this month, the company's Ethereum ETF also went live, significantly outperforming competing ETF products.

According to data provided by the Federal Bureau of Investigation, cryptocurrency investment scams resulted in nearly $4 billion worth of losses last year in the US.

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