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Black Rock CEO calls out the crypto rally as a flight to Quality not just a pump and dump there's more to it apparently we're going to talk about that today on the blash podcast Channel make sure to stay tuned to the very end I'll give my thoughts and opinions we're going to read through this article real quickly so Larry thinkink CEO of Black Rock the world's largest asset manager said in an interview that the crypto rally that we saw on Monday as a result of coin Telegraph posting a false news story saying that the Black Rock ETF got approved by the SEC uh he stated that it represents a flight to Quality driven by real economic factors and not false speculation quote unquote he said this rally is Way Beyond rumor the rally today is about a flight quality with all these issues around the Israeli War more people are running to flight to qualify whether that's on treasuries gold or crypto now you have to take that into consideration giving that it is Larry thinkink he runs is the biggest asset manager in the world in in Black Rock he knows a thing or two about markets um now thinks comments came after Bitcoin rallied earlier today based on false rumors not earlier today but on Monday earlier in the week um that the SEC had approved the Bitcoin spot ETF and the gains were short live when crypto prices soon reversed when the rumors turned out to be false now think Drew these parallels between the cryptocurrencies and traditional Havens like us treasuries and gold which have historical reputations as stabilized assets during periods of instability and geopolitical crisis similarly think has expressed bullish views on asset tokenization previously stating that it could revolutionize Finance uh even just last week Black Rock minted tokenized fund shares on JP Morgan's new tokenization platform so obviously Larry think and black rock are very bullish on where the digital asset Market can go as well as Bitcoin in certain cryptos within blockchain um so not surprised to see him take this stance in particular I think that he's right on a number of points one being the flight to Quality there's a lot of Chaos in the world geopolitical turmoil economic wos potential recessions looming you know people aren't probably going to fly into us treasuries you know their traditional option would be gold but in a new digital age what's the best option alternative to Gold it's Bitcoin and we saw that during the spring when we had a banking crisis and we will see that again because the banking crisis is definitely not going to be over and done with so now you pile on what's happening with Israel and Hamas what's happening with Ukraine what's happening with interest rates having to go up because of inflation um you know the US debt you know being way over $ 33 trillion do$ 33 a half trillion dollar at this point in time like a billion dollars a day or whatever is being added to the national debt it's only get getting worse where are people going to go to get out of the system and to preserve their wealth and their value Bitcoin so when you see this ETF even though it wasn't real it was fake false news um you know it's not coin telegraph's fault entirely I mean just happens but that showed us that people are really waiting for the right opportunity and we were close we saw that Bitcoin Wicked all the way up to $30,000 immediately erasing all this bad sentiment on the news of an ETF that's how you know people really want it that's how you know the institutional part is tricky but is incredibly essential to this market right now and we're very close and that's actually a good sign going into the rest of the fall and into early 2024 when we do have an ETF approved that really might be the beginning of the next bull market even more so than the Bitcoin having which the two and two seem to be aligning pretty close together so that's what's going on um that's what Larry think said let me know what you guys think in the comments section down below make sure to subscribe to the channel if you haven't already if you have thank you so much please give a like and a share and I'll talk to you guys again tomorrow cheers n
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