Bitcoin Forum

"BlackRock" CEO Larry Fink made an anti-Bitcoin comment on Bitcoin in October 2017 and called Bitcoin a significant tool for money laundering. At the time, Larry Fink was a staunch opponent of Bitcoin.

https://www.talkimg.com/images/2023/07/06/ZXSyG.png

But that Larry Fink made another comment on Bitcoin yesterday, July 5, 2023. That 2017 comment and the 2023 comment were not the same. Now that BlackRock CEO Larry Fink has become a fan of Bitcoin. He called Bitcoin an important revolution of the next generation. And also made important comments that investing in Bitcoin is more important than investing in gold.

https://www.talkimg.com/images/2023/07/06/ZXQsZ.png

After 6 years he came out clear not sure he'd start Bitcoin usage this year perhaps he's started earlier and couldn't hide his joy of being a bitcoin investor. So he's announcing publicly! This is just to create attention to himself after these many years of being an ignoramus! Good sign though 😀

When rich people don't own Bitcoin, they make negative statements about it, because they don't want others to invest in it, and instead put money into assets that they already hold. But once they buy Bitcoin, they start praising it as the best thing ever. This happened with Michael Saylor - he went from Bitcoin critic to second Bitcoin Jesus.

But I don't trust their words. They are not Bitcoin enthusiasts, they are getting filthy rich enthusiasts.

Yeah, it's all business for them, if you can't beat them, then join them attitude.

Speaking of Michael Saylor, this is now the (in)famous tweet,

https://i.ibb.co/yqBzpst/Screen-Shot-2023-07-06-at-10-21-25-AM.png (https://imgbb.com/)

https://twitter.com/saylor/status/413478389329428480

At least though, he attacks and then admit that Bitcoin is really different and now becoming the biggest personality in the bitcoin market.

Larry Fink is just one among many. We'll probably expect more conversions over the years. And I guess this is normal. I myself thought Bitcoin was a Ponzi. How many among us Bitcoin supporters immediately embraced Bitcoin the first time they encountered it?

Many of us probably have this skeptical approach when confronted with something like a new currency or a new investment asset. We often start with a doubt. That's a helpful defense mechanism. It's because we have yet to thoroughly understand it. But as soon as we delve deeper into it, we get that it is indeed truly something.

The most important thing is that Bitcoin is winning. There will definitely be more Larry Finks in the years to come, and the sooner they convert the better.

It's still the case! Bitcoin and other cryptos are still used as a tool for money laundering.


So Larry Fink knows how to move on from past mistakes and convert it into a business opportunity. That's a good sign of a businessman. Unfortunately, Mr. Warren Buffet is still holding onto his negative views on cryptocurrency. But that's understandable as he has reached an age where the learning stops and you start thinking yourself as the most wide man in the world.

He said that because he probably didn’t understand it. He heard about it from time to time on the news and most of the headlines were something negative. So just like Trump, he doesn’t understand it and so he says something negative about it.

Reminds me of when I first heard about Bitcoin. Basically I also assumed it was a scam. Because most of the headlines I read about it back in 2012-13 were negative. Then when I read about it and learnt how it actually works and why it’s important, I started to change my mind. Larry is no different.

It's laughable to be with an opinion that Bitcoin used for Money Laundering is "bad". Money Laundering by nefarious entities in itself is bad, yes, but the fact that Bitcoin can be used for Money Laundering effectively merely shows that "Bitcoin", as technically designed, actually WORKS. We should be comforted by the fact that our magic internet coins work as advertised. 8)


He realized his mistake when he personally had problems of moving his money out of Argentina. It's one example of someone who truly learned the hard way. He knew that if he used Bitcoin, he would have moved that money out with merely a few clicks.

What these people say about Bitcoin is irrelevant, in all likelihood six years ago he had his reasons for saying such a thing, maybe he wanted to buy a lot of Bitcoins and tried the public dump route and now that he has filled his pockets want to make a pump.  However with the history of blackrock ETFs I think someone is going to get very hurt.

I know that they're saying stuff like this because they have a financial incentive to do so, but also remember that people can change their minds. Back then in 2013-2015 I also thought that bitcoin was bound to fail; obviously, I already changed my mind.

I guess that this is yet another "rich and famous person shares his opinion about Bitcoin" type of forum posts. ;D
The question is "And so what?". Will it make a difference when people like Larry Fink are bullish and optimistic about Bitcoin? I don't think so.
Some members of the rich elite are pro-Bitcoin, while others are anti-Bitcoin. This will never change and Bitcoin would never receive total recognition. Bitcoin will become a truly dominating financial asset(and a currency) when the "average Joe" starts using BTC everyday, not when people like Larry Fink, Warren Buffet or Bill Gates share positive opinions about BTC.

They are applying for Bitcoin Spot ETF and they have reasons to shill Bitcoin. I don't know they have ever fud Bitcoin like JP Morgan and their CEO Jamie Dimon.

Jamie Dimon did made many Bitcoin FUD and he changed his mind recent months. We did not know since when he accumulated bitcoins for his personal investment.

In 2017 Jamie Dimon said Bitcoin is a fraud (https://www.reuters.com/article/legal-us-usa-banks-conference-jpmorgan-idUSKCN1BN2PN)
In 2021 his bank JP Morgan to give all wealth clients access to crypto funds (https://www.reuters.com/business/finance/jpmorgan-give-all-wealth-clients-access-crypto-funds-business-insider-2021-07-22/)

The joke is he has yet stopped his FUD against Bitcoin. Jamie Dimon calls bitcoin a 'hyped-up fraud' (https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-falls-over-200-points/card/jamie-dimon-calls-bitcoin-a-hyped-up-fraud--5leDKuBxDxAtZw0PfEnL)

The use of bitcoin has been no different since it was created, and as their unscrupulousness broadens the perspective, haters of even the major parties will spit on it. It's only a matter of time that slowly the haters will not be ashamed to swallow back in public the spit that used to be spit out.

It's not a new story anymore that surprised us.

Well if they get their ETF applications approved by the SEC then I hope that they get their ducks in a row and stop saying more negative things about Bitcoin, otherwise their own indexes are going to suffer as the result of the stupidity of their bosses at not keeping their mouth shut about financial assets that they are offering, and then maybe they will realize that maybe it's not a good idea to FUD bitcoin when you are trying to milk bitcoin profit from your clients  ;D

Atleast he learnt and accepted in front of the whole world and then starting investing in Bitcoin, all though he's bit late but still part of the Bitcoin ecosystem now.
Much better than those entrepreneurs and investors who are still not joining the force, like Buffer and Charlie Munger. They are the real anti-bitcoin because youth is not investing in their stocks.

Larry Flink is much better than those two guys lol.

Look at what's happening now, he used to be negative about Bitcoin, he just said bad things, but now, he eats what he said. Bitcoin is suddenly an international asset for him. Although, this is positive and he also has the influence, to convince others for Bitcoin.

It's just that what he did, what Larry did did not affect the rise of Bitcoin in the market, because the value of Bitcoin at the moment is still relatively calm, but when it drops to 29k$ each Bitcoin can create long liquidation.

It would be good for people to understand that all these big companies and some extremely rich and influential individuals generally want nothing but to make even more money, and that Bitcoin is just a means to that goal. Let no one be fooled that they will do something good for Bitcoin in the long run, because they have never been interested in why it exists, it is still completely contrary to the system that they fully support.

I'd compare their current attitude to chewing gum, as long as it tastes, they'll chew it, and then they'll spit it out.

They're just conservative at that time I guess and didn't have enough education and experience in the market that they said that thing I guess. Well, they are in FOMO I guess that they are eyeing this industry already, besides, it's a good thing for crypto as long as they're bullish in it. But, I think I won't doubt if they will change their views once again.

That's how BTC change the mindset, and thinking of peoples who underestimated BTC. Because till now, many had already knew the importance of investing in BTC because halving is coming so does bull run too and everyone wants to make more and more profit. So to do that, they have to change their statements first.

Just like larry did here, and the 2017 statements is way old I think he would have got the lesson of not going against BTC in 2021 when many booked huge profits while he could do the same but did not availed the opportunity. But as of now, everyone wants to avail the opportunity so that they could make huge money.

BTC will gain huge value after  the halving is done and the ETFs will be approved and when the people like larry who were latecomers and did not availed the opportunity, will also adopt BTC or will change their mindset just like larry did whenever in the future they will understand the potential BTC Have.

Larry Fink's actions is like when you've a bad friend and you opened up to him about an investment opportunity. Only for him to advise you not to go on with your plan because he feels it's bad, then he goes behind you back and invest in it. It could also be that he has little or no information about Bitcoin as at then. Bitcoin standing the test of time has made him a believer and a bitcoiner. This is the reason why we should not be hasty to draw conclusion about a project without doing thorough findings. I wonder how he would feel seeing some of his degrading comments about Bitcoin popping up on the internet.

Larry Fink's actions can be likened to a situation where a friend discourages you from pursuing an investment opportunity, but secretly invests in it themselves. It's possible that Fink initially lacked information or knowledge about Bitcoin, but over time, its resilience has made him a believer and a Bitcoin advocate. This highlights the importance of conducting thorough research before drawing conclusions about a project. It would be interesting to see how Fink feels about his past comments on Bitcoin resurfacing on the internet.

It's amusing how opinions can flip, but hey, Bitcoin's got that effect on people. Now he's calling it a revolution and saying it's more valuable than gold. Larry, welcome to the Bitcoin club – better late than never!

Yeah, and there could be others personalities that are going to flip and then invest a huge chunk of money into bitcoin. As others have said, it's better that way, instead of being a contrarian for years and yet at the back of your mind, you know that you are wrong but can't admit to that fact because you will be laugh off.

And the incentive for him and his company? Opening the floodgates and then we can smell institutional money going to bitcoin market.

Here's another one -> https://cointelegraph.com/news/it-s-fine-to-buy-bitcoin-as-gold-substitute-says-trump-ex-treasury-secretary-mnuchin

How interesting it is to observe the transformation of Larry Fink's stance on Bitcoin. From a hardline antagonist, he's morphed into an ardent advocate. My opinion on this? Its a dose of well-executed pragmatism.

Yes, Fink's endorsement of Bitcoin over gold seems hyperbolic, but it may be a sign of the times. Bitcoin is in its ascendancy, and those in the traditional finance sector are beginning to take note. However, proclaiming Bitcoin as a superior investment to gold is an assertion that I believe is a step too far.

While I may appear cynical of Fink's conversion, I understand that change is the only constant. If his endorsement brings more mainstream recognition to Bitcoin, then thats a win for all of us.

Six years is a long time for an individual to change his perception of an investment. He has waited for these years for bitcoin to collapse but it kept on going stronger and stronger. Now he understands that he is missing out on an ample opportunity to make some profit. With the bitcoin halving around the corner and favorable news about the currency, Larry Fink has no other option but to invest and publicly dispute his past wrong statements.

I appreciate his open confession and his investment intentions because it will also favor the Bitcoin ecosystem. But there are still many former Bitcoin critics that are investing secretly in the sector because pride will not allow them to openly dispute their past lies against bitcoin. Hopefully, Bitcoin will keep surprising more anti-bitcoin forces.

It is very different than a friend case. Because as a person, your friend probably were fearful that he did make a bet, nothing more than a bet. Like years ago, many people accused Bitcoin is a fraud and I can understand that some people did not want to be asked about their investment in Bitcoin. They want to have easy life, investment is already stressful and they don't want to be bothered by such stupid questions as "Why did you invest in a fraud, Bitcoin?"

With Larry Fink, it can be different as they are whales and each of word from whales does have big impact on the market. If they silently invested in Bitcoin but said bad words, fud Bitcoin in the past, maybe they planned to do it to have more chances to get cheap bitcoin.

We can not know as he could change his mind from bear to bull or he was bullish about Bitcoin years ago in his mind but just his mouth is bearish.

Even that Gold bug guy Peter Schiff has sort of opened up towards Bitcoin. Not directly but he has some NFTs of his and he is promoting them. So obviously not directly of Bitcoin but pretty much towards crypto. Eventually they will all come around.

I think when Warren Buffet says he loves bitcoins then I can say that we have definitely made it. Eventually he will miss out on too much money by not investing in certain crypto sectors.

Ehh — while he's a good addition, we certainly don't need him.

It's not his job to speculate on technologies. His investment style is investing in cashflow-producing businesses — you know, the more boring kind of businesses and companies. And it worked really well for him historically.