We’ve all heard the quote, “First they ignore you, then they laugh at you, then they fight you, then you win.” It’s often used in the crypto space as a mantra against institutional rejection of cryptocurrencies and their value.
Well, I think one of the biggest examples lately of this, and oh-so-satisfying, is the case of our dear friend, Larry Fink, CEO of BlackRock, in which in an interview with Bloomberg in 2017, he had this to say, “Bitcoin just shows you how much demand for money laundering there is in the world. That’s all it is. It is an index of money laundering.”
Well, cut to seven years later, and I don’t know if you’ve been following the BTC ETF news, but Blackrock’s fund has now approached $18 billion in assets, according to FactSet data, making it the largest bitcoin exchange-traded fund.
I find this an extremely poetic turnaround from a traditional heavyweight asset management firm.
submitted by /u/Abysskitten
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