BlackRock CEO Larry Fink revisits stance on crypto investments, no longer labeling Bitcoin as a tool for money laundering. Fink acknowledges the evolving role of crypto, cautioning against overexposure in investment portfolios. BlackRock manages $12.5 trillion in assets, with their iShares Bitcoin Trust ETF holding over $93.9 billion.

Wall Street softening stance on crypto, with Fink’s change in tone reflective of industry shift. Major financial firms entering crypto market due to investor demand despite volatility and regulatory risks. Fink highlights retail investors’ interest in BlackRock’s Bitcoin ETF, signaling increasing institutional adoption.

Institutions like BlackRock and Fidelity incorporate Bitcoin into strategic asset allocation. Companies like Tesla, Strategy, and Metaplanet integrate Bitcoin into corporate strategy as inflation hedge. Sygnum’s Fabian Dori notes interest in crypto as alternative store of value, payment method, and decentralized application infrastructure.

British investment platform Hargreaves Lansdown warns against Bitcoin due to perceived lack of intrinsic value. Despite caution, firms like Hargreaves Lansdown still allow qualified investors access to crypto exchange-traded notes. Bitcoin price reaches $115,000, recovering from a sharp dip that triggered billions in liquidations within hours.

Read more at Yahoo Finance: Bitcoin and Crypto ‘Serve Same Purpose as Gold’