Summary:
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Change of Heart: BlackRock’s co-founder and CEO Larry Fink, once skeptical of cryptocurrencies, now firmly believes in the legitimacy of Bitcoin and its place in the average investor’s portfolio.
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Legitimacy and Misuses: Fink acknowledges that while Bitcoin may have misuses, it remains a legitimate financial instrument offering uncorrelated returns.
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Hedge Against Currency Devaluation: Fink highlights the U.S. budget deficit as a reason to invest in crypto, suggesting it can help hedge against devaluation of currencies.
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